OLO (NYSE:OLO) Sets New 1-Year High - Should You Buy?

Olo Inc. (NYSE:OLO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $10.14 and last traded at $10.12, with a volume of 43516475 shares traded. The stock had previously closed at $8.91.

Analysts Set New Price Targets

Several brokerages recently weighed in on OLO. Wall Street Zen lowered OLO from a "buy" rating to a "hold" rating in a report on Saturday. Lake Street Capital lifted their target price on shares of OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 9th.

OLO Stock Performance

The firm has a market capitalization of $1.68 billion, a PE ratio of 506.25 and a beta of 1.57. The business's 50 day moving average is $8.55 and its two-hundred day moving average is $7.45.

OLO (NYSE:OLO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. The firm's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share. As a group, equities research analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Insider Buying and Selling at OLO

In other OLO news, Director Zuhairah Scott Washington sold 10,000 shares of OLO stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.48, for a total transaction of $84,800.00. Following the completion of the transaction, the director owned 68,677 shares of the company's stock, valued at $582,380.96. The trade was a 12.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter J. Benevides sold 23,078 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $203,086.40. Following the transaction, the chief financial officer directly owned 702,061 shares of the company's stock, valued at approximately $6,178,136.80. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,630 shares of company stock worth $864,454. 39.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of OLO during the fourth quarter worth about $35,000. SMI Advisory Services LLC purchased a new position in OLO in the 1st quarter worth approximately $62,000. Calamos Advisors LLC purchased a new position in OLO in the 1st quarter worth approximately $63,000. Corton Capital Inc. purchased a new position in OLO in the 1st quarter worth approximately $66,000. Finally, Envestnet Asset Management Inc. purchased a new position in OLO in the 4th quarter worth approximately $80,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

About OLO

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.