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

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

Analysts Set New Price Targets

Several research firms have recently weighed in on OLO. StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Lake Street Capital lifted their target price on shares of OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $8.00 target price on shares of OLO in a research note on Thursday, August 1st.

OLO Price Performance

The firm has a market cap of $1.05 billion, a P/E ratio of -64.70 and a beta of 1.26. The stock has a 50 day moving average of $5.07 and a 200 day moving average of $4.88.

Insider Activity at OLO

In other OLO news, CRO Diego Panama sold 13,555 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $66,419.50. Following the completion of the sale, the executive now directly owns 569,859 shares in the company, valued at $2,792,309.10. This represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Joanna G. Lambert sold 67,403 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $330,274.70. Following the sale, the chief operating officer now owns 591,646 shares of the company’s stock, valued at approximately $2,899,065.40. The trade was a 10.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock valued at $554,425 over the last 90 days. 39.33% of the stock is owned by insiders.

Institutional Trading of OLO

Several institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in OLO by 6.1% during the second quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock valued at $186,000 after buying an additional 2,433 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of OLO by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock worth $218,000 after purchasing an additional 3,340 shares during the period. MQS Management LLC boosted its holdings in shares of OLO by 15.9% during the third quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after purchasing an additional 3,898 shares during the period. Creative Planning boosted its holdings in shares of OLO by 15.1% during the third quarter. Creative Planning now owns 30,371 shares of the company’s stock worth $151,000 after purchasing an additional 3,974 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of OLO by 10.0% during the first 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. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

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.