OLO (NYSE:OLO) Price Target Raised to $9.00 at Royal Bank of Canada

OLO (NYSE:OLO) had its price target upped by Royal Bank of Canada from $8.00 to $9.00 in a research note issued to investors on Friday,Benzinga reports. Royal Bank of Canada 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 Stock Performance

Shares of OLO opened at $8.12 on Friday. The firm has a market cap of $1.33 billion, a P/E ratio of -81.19 and a beta of 1.46. OLO has a 52 week low of $4.20 and a 52 week high of $8.18. The firm’s 50-day simple moving average is $6.92 and its 200 day simple moving average is $5.60.

Hedge Funds Weigh In On OLO

Hedge funds have recently bought and sold shares of the business. 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. Acadian Asset Management LLC bought a new stake in shares of OLO in the second quarter valued at approximately $227,000. American Century Companies Inc. grew its position in OLO by 14.6% during the second quarter. American Century Companies Inc. now owns 150,640 shares of the company’s stock worth $666,000 after buying an additional 19,137 shares in the last quarter. Federated Hermes Inc. increased its stake in OLO by 644,200.0% during the 2nd 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. Finally, Renaissance Technologies LLC raised its holdings in OLO by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after acquiring an additional 171,700 shares in the last quarter. 93.40% of the stock is owned by institutional investors.

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.