Here's Why Olo Stock Beat the Market This Week
Shares of restaurant technology company Olo (NYSE: OLO) got a boost this week after an analyst positively changed his rating on the stock.
Olo stock had been missing out on the market rally, with shares basically flat year to date. However, after the analyst upgrade, Olo stock gained almost 16% this week as of 1 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence. This easily beat the 1% return for the S&P 500.
Brent Bracelin is an analyst with Piper Sandler and has covered Olo stock for some time. In August, he lowered his rating from buy to hold and lowered his price target to $9 per share. However, Bracelin upgraded Olo stock yesterday to an "overweight" rating from a "neutral" rating, according to StreetInsider.
Source Fool.com
