Toast (NYSE:TOST) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Toast (NYSE:TOST) in a report released on Monday, MarketBeat reports. The brokerage issued an outperform rating and a $45.00 price target on the stock.

Several other equities research analysts have also issued reports on TOST. Bank of America upped their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. BNP Paribas lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Wednesday, November 20th. Wedbush lifted their target price on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada increased their price target on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their price objective on Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Toast presently has a consensus rating of “Hold” and a consensus target price of $35.27.

Toast Stock Performance

Shares of TOST stock opened at $38.81 on Monday. The stock has a market capitalization of $18.28 billion, a price-to-earnings ratio of -298.54, a PEG ratio of 23.40 and a beta of 1.97. Toast has a one year low of $16.13 and a one year high of $44.12. The company’s 50-day simple moving average is $38.00 and its 200-day simple moving average is $30.32.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 39,768 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.02, for a total value of $1,154,067.36. Following the sale, the president now directly owns 1,795,301 shares in the company, valued at approximately $52,099,635.02. The trade was a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the transaction, the director now owns 182,451 shares of the company’s stock, valued at approximately $6,575,534.04. This trade represents a 44.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,149,075 shares of company stock valued at $39,389,680. 13.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several large investors have recently modified their holdings of TOST. ValueAct Holdings L.P. purchased a new position in Toast in the 3rd quarter worth about $438,301,000. FMR LLC boosted its holdings in shares of Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after buying an additional 8,205,053 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after acquiring an additional 3,701,893 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after acquiring an additional 1,604,716 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its position in shares of Toast by 1,475.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock valued at $24,091,000 after acquiring an additional 796,936 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.