OLO (NYSE:OLO) Reaches New 1-Year High - Time to Buy?

Shares of Olo Inc. (NYSE:OLO) experienced a significant rise, reaching a new 52-week high on Friday. The stock soared to $7.49 during trading and settled at $7.48, with a total volume of 1,574,676 shares exchanged. This marks an increase from the previous close of $7.21.

Recent Analyst Ratings

In other news, StockNews.com has revised its stance on OLO, moving from a "hold" rating to a "buy" rating as stated in their latest research report.

Performance Overview of OLO Stock

OLO boasts a market capitalization of $1.22 billion and has a price-to-earnings ratio of -72.10. The stock has a beta of 1.46, indicating some volatility. Its 50-day moving average stands at $5.73, while its 200-day moving average is $5.12.

Institutional Interest in OLO

Recent trading activity indicates a robust interest from institutional investors. Price T Rowe Associates Inc. MD has expanded its OLO holdings by 10% in the first quarter, acquiring an additional 4,382 shares, bringing their total to 48,240 shares valued at $265,000. SG Americas Securities LLC also entered the scene by establishing a new position in OLO worth $249,000 during the second quarter. Meanwhile, Conestoga Capital Advisors LLC increased its stake by 30.6%, owning 310,310 shares valued at $1.37 million after purchasing an additional 72,685 shares. Rhumbline Advisers and Acadian Asset Management LLC have also increased their OLO holdings significantly. Currently, around 93.40% of OLO shares are held by institutional investors and hedge funds.

About OLO Inc.

Olo Inc. operates a versatile SaaS platform designed for restaurants in the United States. This comprehensive platform supports on-demand digital commerce, integrating various functionalities including digital ordering, delivery, front-of-house management, and payment processing. Key offerings include the Order suite, which enhances digital ordering processes and manages various channels; the Engage suite, which focuses on optimizing guest relations through marketing solutions; and the Pay platform, which simplifies payment experiences while also incorporating advanced fraud prevention measures.

Investment Considerations

For those contemplating a potential investment in OLO, it’s important to note that while the stock is currently rated as a "Buy" by several analysts, there are other stocks that may be more favorable based on recommendations from top-performing research analysts.

Conclusion

In conclusion, investors should carefully evaluate OLO's performance, market outlook, and analyst ratings when deciding whether to invest at this new price point.

OLO, Stocks, Investment