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

OLO (NYSE:OLO)‘s stock had its “neutral” rating reiterated by equities researchers at Piper Sandler in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They presently have a $8.00 price target on the stock. Piper Sandler’s price target would indicate a potential upside of 4.85% from the stock’s previous close.

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

OLO Stock Down 2.8 %

NYSE OLO opened at $7.63 on Wednesday. OLO has a 52 week low of $4.20 and a 52 week high of $8.35. The company has a 50 day moving average price of $7.14 and a 200 day moving average price of $5.68. The firm has a market cap of $1.25 billion, a PE ratio of -76.29 and a beta of 1.42.

Hedge Funds Weigh In On OLO

Institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its stake in shares of OLO by 644,200.0% in the second 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. Wallace Advisory Group LLC acquired a new stake in OLO during the 2nd quarter worth about $57,000. Point72 DIFC Ltd raised its stake in shares of OLO by 52.7% during the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after buying an additional 4,964 shares during the last quarter. SPC Financial Inc. acquired a new position in shares of OLO in the 3rd quarter valued at about $65,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of OLO in the 3rd quarter valued at about $74,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

About OLO

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.