OLO (NYSE:OLO) Hits New 52-Week High - Still a Buy?

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

Analyst Upgrades and Downgrades

OLO has been the topic of several analyst reports. Lake Street Capital lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Truist Financial lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $10.25 target price on shares of OLO in a research note on Monday, July 7th. Piper Sandler raised their target price on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research note on Monday, July 7th. Finally, Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $10.17.

OLO Price Performance

The stock's 50 day simple moving average is $9.13 and its two-hundred day simple moving average is $7.62. The stock has a market cap of $1.68 billion, a P/E ratio of 506.25 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last announced its earnings results 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 net margin of 1.09% and a return on equity of 1.46%. The business had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The firm's revenue was up 21.3% on a year-over-year basis. As a group, analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Peter J. Benevides sold 23,078 shares of the firm'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 value of $203,086.40. Following the completion of the transaction, the chief financial officer owned 702,061 shares in the company, valued at $6,178,136.80. This trade represents a 3.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Morvillo sold 10,129 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $89,135.20. Following the sale, the insider directly owned 386,516 shares of the company's stock, valued at approximately $3,401,340.80. This trade represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,630 shares of company stock valued at $864,454. Company insiders own 39.33% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. bought a new position in shares of OLO during the fourth quarter valued at approximately $80,000. Calamos Advisors LLC purchased a new stake in OLO in the first quarter worth $63,000. SMI Advisory Services LLC purchased a new stake in OLO in the first quarter worth $62,000. Franklin Resources Inc. purchased a new stake in OLO in the fourth quarter worth $81,000. Finally, Corton Capital Inc. purchased a new stake in OLO in the first quarter worth $66,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

OLO Company Profile

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.