OLO’s (OLO) Neutral Rating Reiterated at Piper Sandler

OLO (NYSE:OLO)‘s stock had its “neutral” rating restated by investment analysts at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They presently have a $8.00 price objective on the stock. Piper Sandler’s price target would indicate a potential upside of 1.65% from the stock’s current price.

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

OLO Trading Down 2.4 %

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

Hedge Funds Weigh In On OLO

A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its stake in shares of OLO by 644,200.0% during the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after acquiring an additional 6,442 shares in the last quarter. Wallace Advisory Group LLC purchased a new position in OLO during the 2nd quarter worth $57,000. SPC Financial Inc. bought a new stake in OLO during the 3rd quarter valued at $65,000. Point72 DIFC Ltd lifted its holdings in shares of OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after buying an additional 4,964 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of OLO during the 3rd quarter worth $74,000. 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.