Olo downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler downgraded Olo (OLO) to Neutral from Overweight with an unchanged price target of $8. The firm says the return of investor appetite in small cap has fueled a 60% run in shares over the last 12 months. With the bar now higher for the incremental investor, the recent job cuts and executive changes at Olo leave Piper concerned on the 2025 outlook, the analyst tells investors in a research note.