OLO (NYSE:OLO) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

OLO (NYSE:OLO) had its target price raised by Royal Bank of Canada from $8.00 to $9.00 in a research note released on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

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

OLO Price Performance

OLO stock opened at $8.12 on Friday. The stock has a market capitalization of $1.33 billion, a PE ratio of -81.19 and a beta of 1.46. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $8.18. The company has a 50 day moving average price of $6.92 and a 200 day moving average price of $5.58.

Hedge Funds Weigh In On OLO

A number of large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of OLO by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock worth $186,000 after purchasing an additional 2,433 shares in the last quarter. MQS Management LLC boosted its holdings in shares of OLO by 15.9% during the 3rd quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after buying an additional 3,898 shares during the period. Creative Planning increased its stake 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. Point72 DIFC Ltd lifted its holdings in shares of OLO by 52.7% during the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after buying an additional 4,964 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of OLO by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock worth $680,000 after purchasing an additional 4,979 shares in the last quarter. Institutional investors own 93.40% of the company’s stock.

About OLO

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.