Olo price target raised to $8.50 from $7.50 at Lake Street

Lake Street raised the firm’s price target on Olo to $8.50 from $7.50 and keeps a Buy rating on the shares after its Q4 results and above-consensus guidance. The company is seeing success across a wide swath of the installed base, while its outlook anticipates Pay will generate sales of $60M in 2024, up from $30M in 2023, the analyst tells investors in a research note.