OLO (NYSE:OLO) Hits New 52-Week High – Should You Buy?

Olo Inc. (NYSE:OLO)’s share price reached a new 52-week high on Wednesday . The company traded as high as $7.07 and last traded at $7.07, with a volume of 3442 shares. The stock had previously closed at $6.90.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Piper Sandler reaffirmed an “overweight” rating and set a $8.00 target price on shares of OLO in a research note on Thursday, August 1st. Finally, Lake Street Capital raised their target price on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

OLO Price Performance

The company’s 50-day moving average is $5.07 and its two-hundred day moving average is $4.88. The company has a market cap of $1.05 billion, a P/E ratio of -64.70 and a beta of 1.26.

Insider Buying and Selling

In other news, COO Joanna G. Lambert sold 67,403 shares of OLO stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $330,274.70. Following the transaction, the chief operating officer now owns 591,646 shares in the company, valued at $2,899,065.40. This trade represents a 10.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Peter J. Benevides sold 10,530 shares of OLO stock in a transaction on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $51,597.00. Following the transaction, the chief financial officer now owns 414,403 shares in the company, valued at $2,030,574.70. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,148 shares of company stock worth $554,425. 39.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in OLO by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock valued at $218,000 after acquiring an additional 3,340 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of OLO by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock worth $69,940,000 after buying an additional 319,544 shares during the last quarter. Rockport Wealth LLC bought a new stake in shares of OLO in the 1st quarter worth about $55,000. Quadrature Capital Ltd boosted its stake in shares of OLO by 73.5% during the 1st quarter. Quadrature Capital Ltd now owns 87,457 shares of the company’s stock worth $480,000 after purchasing an additional 37,063 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of OLO by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock worth $265,000 after purchasing an additional 4,382 shares during the period. Hedge funds and other institutional investors own 93.40% of the company’s stock.

OLO Company Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company’s platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands’ on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants’ direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.