OLO (NYSE:OLO) Hits New 52-Week High Following Analyst Upgrade

Olo Inc. (NYSE:OLO) reached a new 52-week high during mid-day trading on Monday after Royal Bank of Canada raised their price target on the stock from $8.00 to $9.00. Royal Bank of Canada currently has an outperform rating on the stock. OLO traded as high as $8.35 and last traded at $8.23, with a volume of 180953 shares changing hands. The stock had previously closed at $8.12.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OLO. Federated Hermes Inc. increased its position in OLO by 644,200.0% during the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after acquiring an additional 6,442 shares during the period. Wallace Advisory Group LLC acquired a new stake in shares of OLO in the 2nd quarter valued at $57,000. Point72 DIFC Ltd grew its position in OLO by 52.7% in the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after acquiring an additional 4,964 shares during the last quarter. SPC Financial Inc. acquired a new position in OLO during the 3rd quarter worth approximately $65,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of OLO during the third quarter worth $74,000. Institutional investors own 93.40% of the company’s stock.

OLO Price Performance

The stock has a market capitalization of $1.34 billion, a P/E ratio of -81.79 and a beta of 1.42. The firm has a 50-day simple moving average of $6.92 and a 200 day simple moving average of $5.60.

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.