10 Best Cloud Computing Stocks to Buy Under $10

3. Olo Inc. (NYSE:OLO)

Current Share Price: $6.15

Number of Hedge Fund Holders: 30

Olo Inc. (NYSE:OLO) provides an enterprise-grade, open SaaS platform to help restaurants with online ordering and delivery. Its cloud-based platform allows restaurants to handle orders, manage deliveries, and improve how they connect with customers. The software integrates with a range of restaurant technology solutions like point-of-sale (POS) systems, delivery service providers, and payment processors. Its software makes operations more efficient for restaurant businesses. The company serves various restaurant chains, including Shake Shack and Wingstop.

Olo’s platform is key in helping restaurants update their operations, handle orders more efficiently, and improve the customer experience as more consumers turn to digital platforms and off-premise dining. The company is well-positioned to capitalise on a vast addressable market, fuelled by the restaurant industry’s shift toward digital operations and the rising need for seamless ordering and payment systems.

The company continued its innovation momentum with 13 new platform enhancements and a higher ARPU, driving Q4 revenue up 21% year-over-year to $76.1 million. It reported strong growth metrics, including $29 billion in gross merchandise volume and a rise in gross payment volume to $2.8 billion from $1 billion in 2023. For 2025, the company expects revenue between $333-$336 million and adjusted operating income of $45.5-$47 million. The company is also likely to witness better operating leverage, which should partly offset the impact on gross margins due to revenue mix shifts.