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

Olo Inc. (NYSE:OLO - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.15 and last traded at $10.15, with a volume of 3770078 shares. The stock had previously closed at $10.12.

Analyst Ratings Changes

OLO has been the subject of a number of research reports. Truist Financial downgraded OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Piper Sandler raised their price target on OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a report on Monday, July 7th. Lake Street Capital lowered OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $10.25 price objective on shares of OLO in a research report on Monday, July 7th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.17.

OLO Trading Down 0.1%

The firm has a fifty day moving average of $9.10 and a 200 day moving average of $7.61. The company has a market capitalization of $1.68 billion, a P/E ratio of 506.25 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. OLO had a return on equity of 1.46% and a net margin of 1.09%. The company had revenue of $80.68 million during the quarter, compared to the consensus estimate of $77.47 million. During the same period last year, the company earned $0.05 EPS. OLO's revenue for the quarter was up 21.3% on a year-over-year basis. Sell-side analysts anticipate that Olo Inc. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at OLO

In other OLO news, insider Sherri Manning sold 5,657 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $49,781.60. Following the completion of the sale, the insider directly owned 297,926 shares in the company, valued at $2,621,748.80. The trade was a 1.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Noah H. Glass sold 10,152 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $89,337.60. Following the sale, the chief executive officer owned 278,202 shares of the company's stock, valued at approximately $2,448,177.60. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,630 shares of company stock worth $864,454. 39.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OLO

A number of large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of OLO by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,036,408 shares of the company's stock valued at $7,960,000 after buying an additional 18,474 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of OLO during the 4th quarter valued at about $2,346,000. Amundi lifted its position in shares of OLO by 93.0% during the 4th quarter. Amundi now owns 14,740 shares of the company's stock valued at $112,000 after buying an additional 7,101 shares in the last quarter. Swiss National Bank lifted its position in shares of OLO by 5.0% during the 4th quarter. Swiss National Bank now owns 205,800 shares of the company's stock valued at $1,581,000 after buying an additional 9,800 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new position in shares of OLO during the 4th quarter valued at about $258,000. 93.40% of the stock is currently owned by 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.