Toast (NYSE:TOST) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer started coverage on shares of Toast (NYSE:TOST) in a research report report published on Friday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $46.00 target price on the stock.

A number of other analysts also recently weighed in on TOST. Morgan Stanley upped their target price on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Piper Sandler boosted their price target on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price target on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Stephens lifted their price target on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus target price of $35.74.

Toast Price Performance

NYSE:TOST opened at $39.33 on Friday. The business has a fifty day simple moving average of $38.83 and a two-hundred day simple moving average of $31.41. Toast has a 1 year low of $16.13 and a 1 year high of $44.12.

Toast (NYSE:TOST) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. On average, equities analysts predict that Toast will post 0.03 EPS for the current year.

Insider Transactions at Toast

In other Toast news, Director Christopher P. Comparato sold 145,000 shares of the business’s stock in a transaction on 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 in the company, valued at $6,575,534.04. The trade was a 44.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Yuan sold 189,785 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 562,600 shares of company stock worth $21,823,932 in the last three months. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Toast by 25.5% in the 2nd quarter. American Century Companies Inc. now owns 27,844 shares of the company’s stock worth $718,000 after buying an additional 5,651 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Toast by 46.5% during the second quarter. Envestnet Asset Management Inc. now owns 333,013 shares of the company’s stock valued at $8,582,000 after buying an additional 105,739 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Toast by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,161,572 shares of the company’s stock valued at $29,933,000 after acquiring an additional 68,875 shares in the last quarter. Renaissance Technologies LLC bought a new position in Toast during the 2nd quarter worth about $2,879,000. Finally, Amalgamated Bank increased its position in Toast by 24.2% during the 2nd quarter. Amalgamated Bank now owns 29,973 shares of the company’s stock valued at $772,000 after purchasing an additional 5,838 shares during the period. Institutional investors own 82.91% of the company’s stock.

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.