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

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

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

OLO Trading Up 5.3 %

Shares of OLO stock opened at $8.12 on Friday. The firm’s fifty day moving average price is $6.92 and its two-hundred day moving average price is $5.60. OLO has a 1 year low of $4.20 and a 1 year high of $8.18. The firm has a market capitalization of $1.33 billion, a P/E ratio of -81.19 and a beta of 1.46.

Institutional Trading of OLO

Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of OLO by 6.1% during the 2nd 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 during the last quarter. MQS Management LLC increased its position in OLO by 15.9% during the third 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 last quarter. Creative Planning raised its stake in OLO by 15.1% in the third quarter. Creative Planning now owns 30,371 shares of the company’s stock valued at $151,000 after buying an additional 3,974 shares during the period. Point72 DIFC Ltd raised its stake 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 buying an additional 4,964 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of OLO by 3.3% in the second quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock valued at $680,000 after buying an additional 4,979 shares during the last quarter. 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.