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

OLO (NYSE:OLO) had its price target hoisted by equities researchers at Royal Bank of Canada from $8.00 to $9.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 10.84% from the company’s current price.

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

OLO Stock Performance

OLO stock opened at $8.12 on Friday. The company has a market capitalization of $1.33 billion, a PE ratio of -81.19 and a beta of 1.46. The company has a 50 day moving average price of $6.92 and a 200-day moving average price of $5.59. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $8.18.

Hedge Funds Weigh In On OLO

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. raised its stake in OLO by 52.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock worth $6,996,000 after buying an additional 487,919 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of OLO in the 3rd quarter worth $2,236,000. JPMorgan Chase & Co. lifted its stake in shares of OLO by 220.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock worth $2,770,000 after purchasing an additional 384,196 shares during the last quarter. Algert Global LLC lifted its stake in shares of OLO by 114.0% during the 2nd quarter. Algert Global LLC now owns 710,319 shares of the company’s stock worth $3,140,000 after purchasing an additional 378,368 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in OLO by 154.4% during the second quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock valued at $2,510,000 after purchasing an additional 344,676 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors.

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.