BMO Capital Markets Begins Coverage on Toast (NYSE:TOST)

Stock analysts at BMO Capital Markets started coverage on shares of Toast (NYSE:TOST) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $45.00 price target on the stock. BMO Capital Markets’ price target would suggest a potential upside of 20.35% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. DA Davidson reissued a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Piper Sandler increased their price objective on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Robert W. Baird lifted their target price on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft increased their price target on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company lifted 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 analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $35.27.

Toast Trading Down 4.0 %

Shares of TOST stock opened at $37.39 on Monday. The business’s 50-day moving average price is $38.15 and its 200-day moving average price is $30.40. Toast has a 12 month low of $16.13 and a 12 month high of $44.12. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of -287.62, a PEG ratio of 23.40 and a beta of 1.97.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 40,459 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $29.04, for a total transaction of $1,174,929.36. Following the completion of the sale, the president now owns 1,700,282 shares in the company, valued at approximately $49,376,189.28. The trade was a 2.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the transaction, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. The trade was a 62.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,109,307 shares of company stock valued at $38,235,613 over the last ninety days. 13.32% of the stock is owned by company insiders.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. Principal Financial Group Inc. lifted its holdings in shares of Toast by 4.6% in the second quarter. Principal Financial Group Inc. now owns 38,663 shares of the company’s stock valued at $996,000 after purchasing an additional 1,716 shares in the last quarter. Natixis Advisors LLC bought a new position in Toast during the 2nd quarter valued at $1,473,000. CIBC Asset Management Inc boosted its holdings in Toast by 41.9% during the 2nd quarter. CIBC Asset Management Inc now owns 12,166 shares of the company’s stock worth $314,000 after acquiring an additional 3,590 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Toast by 22.3% in the 2nd quarter. Rhumbline Advisers now owns 579,086 shares of the company’s stock worth $14,923,000 after acquiring an additional 105,474 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Toast by 19.1% in the second quarter. TD Asset Management Inc now owns 481,443 shares of the company’s stock valued at $12,407,000 after purchasing an additional 77,295 shares during the last quarter. 82.91% of the stock is owned by 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.