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

Olo Inc. (NYSE:OLO) reached a new 52-week high on Friday, with shares soaring to $7.49 before settling at $7.48 by the end of trading. The day’s activity saw a robust volume of 1,574,676 shares exchanged, marking a significant increase from its previous closing price of $7.21.

Analyst Ratings Changes

Notably, StockNews.com recently upgraded their rating for OLO from "hold" to "buy" in a report released on Monday, signaling positive sentiment among analysts.

OLO Stock Performance

As of now, OLO has a market capitalization of $1.22 billion. Its price-to-earnings ratio stands at -72.10, and it holds a beta value of 1.46, suggesting higher volatility compared to the market. The company’s 50-day moving average is noted at $5.73, while its 200-day moving average rests at $5.12, reflecting a steady upward trend in its stock price over time.

Institutional Trading of OLO

Recent trading activity has seen several hedge funds adjusting their positions in OLO. Price T Rowe Associates Inc. MD increased its stake in OLO by 10% during the first quarter, acquiring an additional 4,382 shares for a total of 48,240 shares valued at approximately $265,000. SG Americas Securities LLC also made a new investment in OLO during the second quarter, contributing around $249,000.

Furthermore, Conestoga Capital Advisors LLC boosted its holdings by 30.6%, now owning 310,310 shares worth about $1.37 million after acquiring an additional 72,685 shares. Rhumbline Advisers increased their position by 3.3% in the same quarter, now possessing 153,760 shares valued at approximately $680,000. Lastly, Acadian Asset Management LLC entered the OLO market as a new stakeholder with an investment of around $227,000. Altogether, institutional investors and hedge funds hold 93.40% of OLO's shares.

About OLO

Olo Inc. specializes in operating an open SaaS platform specifically designed for the restaurant industry in the United States. This platform provides essential tools to support on-demand digital commerce, including digital ordering, delivery management, front-of-house operations, and integrated payments. Olo's offerings encapsulate a suite of solutions known as Order, which empowers restaurant brands by enabling seamless digital transactions, a marketing suite called Engage that enhances customer relationships, and a payment solution named Pay aimed at improving the customer payment experience while safeguarding against fraud.

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In conclusion, while OLO's current rating stands at "buy," market analysts suggest reviewing several other options that may offer better potential gains.

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