OLO (NYSE:OLO) Price Target Raised to $9.00

OLO (NYSE:OLO) had its target price raised by equities research analysts at Royal Bank of Canada from $8.00 to $9.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 12.78% from the company’s current price.

Separately, StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

OLO Stock Up 3.5 %

OLO traded up $0.27 on Friday, reaching $7.98. The company’s stock had a trading volume of 386,121 shares, compared to its average volume of 594,323. The stock has a 50 day moving average of $6.86 and a two-hundred day moving average of $5.56. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $8.18. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -79.79 and a beta of 1.46.

Hedge Funds Weigh In On OLO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in OLO by 220.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock valued at $2,770,000 after purchasing an additional 384,196 shares during the last quarter. Barclays PLC lifted its stake in shares of OLO by 399.3% during the third quarter. Barclays PLC now owns 190,335 shares of the company’s stock valued at $943,000 after buying an additional 152,214 shares during the period. Geode Capital Management LLC grew its stake in OLO by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock worth $12,130,000 after acquiring an additional 42,318 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in OLO in the 3rd quarter valued at $631,000. Finally, XTX Topco Ltd lifted its stake in shares of OLO by 478.6% during the 3rd quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock worth $836,000 after purchasing an additional 139,441 shares during the period. Institutional investors and hedge funds 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.