Toast (NYSE:TOST) Research Coverage Started at BMO Capital Markets

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

TOST has been the subject of several other research reports. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Piper Sandler raised their price target on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Robert W. Baird raised their price target on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Compass Point started coverage on Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.27.

Toast Price Performance

Shares of TOST stock opened at $37.13 on Monday. Toast has a 1-year low of $16.13 and a 1-year high of $44.12. The stock’s 50-day moving average is $38.15 and its 200 day moving average is $30.40. The company has a market cap of $17.49 billion, a P/E ratio of -285.62, a PEG ratio of 23.40 and a beta of 1.97.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 40,459 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total value of $1,174,929.36. Following the completion of the transaction, the president now directly owns 1,700,282 shares of the company’s stock, valued at $49,376,189.28. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Kent Bennett sold 100,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total value of $3,667,000.00. Following the sale, the director now owns 418,591 shares in the company, valued at approximately $15,349,731.97. This trade represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,109,307 shares of company stock valued at $38,235,613. Corporate insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. grew its stake in Toast by 1.9% in the third quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after purchasing an additional 409 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after acquiring an additional 421 shares during the period. Private Advisor Group LLC boosted its position in shares of Toast by 1.6% during the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after buying an additional 441 shares during the period. CIBC Asset Management Inc boosted its position in shares of Toast by 3.7% during the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock worth $357,000 after buying an additional 448 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after buying an additional 496 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Company Profile

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.