Piper Sandler Reaffirms Neutral Rating for OLO (NYSE:OLO)

OLO (NYSE:OLO)‘s stock had its “neutral” rating reiterated by stock analysts at Piper Sandler in a note issued to investors on Wednesday,Benzinga reports. They presently have a $8.00 target price on the stock. Piper Sandler’s target price would suggest a potential upside of 1.65% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their target price on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd.

OLO Trading Down 2.4 %

NYSE:OLO opened at $7.87 on Wednesday. The stock has a 50-day moving average price of $7.04 and a 200 day moving average price of $5.65. The stock has a market capitalization of $1.29 billion, a P/E ratio of -78.69 and a beta of 1.42. OLO has a 12-month low of $4.20 and a 12-month high of $8.35.

Institutional Investors Weigh In On OLO

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in shares of OLO by 644,200.0% in the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after buying an additional 6,442 shares in the last quarter. Wallace Advisory Group LLC bought a new position in shares of OLO in the 2nd quarter valued at about $57,000. SPC Financial Inc. purchased a new position in OLO in the third quarter worth about $65,000. Point72 DIFC Ltd increased its stake in 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 acquiring an additional 4,964 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in OLO during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors 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.