Royal Bank of Canada Forecasts Strong Price Appreciation for OLO (NYSE:OLO) Stock

OLO (NYSE:OLO) had its price objective increased by stock analysts at Royal Bank of Canada from $8.00 to $9.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 10.84% from the stock’s current price.

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

OLO Trading Up 5.3 %

Shares of OLO stock opened at $8.12 on Friday. The company has a market cap of $1.33 billion, a PE ratio of -81.19 and a beta of 1.46. OLO has a 12-month low of $4.20 and a 12-month high of $8.18. The business’s fifty day simple moving average is $6.92 and its 200-day simple moving average is $5.59.

Institutional Investors Weigh In On OLO

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in OLO by 14.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock worth $5,049,000 after acquiring an additional 127,569 shares during the period. Renaissance Technologies LLC raised its stake in shares of OLO by 17.2% in 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 during the last quarter. Barclays PLC raised its stake in shares of OLO by 399.3% in the third quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after purchasing an additional 152,214 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of OLO by 154.4% during the second quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock worth $2,510,000 after purchasing an additional 344,676 shares during the period. Finally, Clearline Capital LP boosted its position in OLO by 325.8% in the second quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock valued at $750,000 after buying an additional 129,874 shares during the last quarter. 93.40% of the stock is owned by hedge funds and other 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.