Royal Bank of Canada Issues Positive Forecast for OLO (NYSE:OLO) Stock Price

OLO (NYSE:OLO) had its target price lifted by Royal Bank of Canada from $8.00 to $9.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

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

OLO Price Performance

NYSE:OLO opened at $8.12 on Friday. The firm has a market cap of $1.33 billion, a PE ratio of -81.19 and a beta of 1.46. OLO has a 1-year low of $4.20 and a 1-year high of $8.18. The firm has a 50 day simple moving average of $6.92 and a 200-day simple moving average of $5.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in shares of OLO by 3.3% during the second quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock valued at $680,000 after purchasing an additional 4,979 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of OLO in the second quarter valued at approximately $227,000. American Century Companies Inc. boosted its position in OLO by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 150,640 shares of the company’s stock worth $666,000 after acquiring an additional 19,137 shares during the period. Federated Hermes Inc. grew its position in OLO by 644,200.0% in the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after buying an additional 6,442 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in OLO by 17.2% during the second quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock worth $5,174,000 after purchasing an additional 171,700 shares in the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

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.