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

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

A number of other equities analysts also recently commented on the company. Morgan Stanley increased their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wedbush increased their price target on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Robert W. Baird raised their price objective on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Bank of America raised their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, Piper Sandler raised their target price on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.27.

Toast Trading Down 0.8 %

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

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the sale, the executive now owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. This trade represents a 3.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Aman Narang sold 1,646 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $51,157.68. Following the completion of the sale, the chief executive officer now directly owns 969,970 shares of the company’s stock, valued at $30,146,667.60. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,109,307 shares of company stock valued at $38,235,613. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in Toast by 4.6% during the second quarter. Principal Financial Group Inc. now owns 38,663 shares of the company’s stock worth $996,000 after acquiring an additional 1,716 shares during the period. Natixis Advisors LLC bought a new stake in Toast during the second quarter worth about $1,473,000. CIBC Asset Management Inc lifted its stake in Toast by 41.9% during the second quarter. CIBC Asset Management Inc now owns 12,166 shares of the company’s stock worth $314,000 after purchasing an additional 3,590 shares during the last quarter. Rhumbline Advisers lifted its stake in Toast by 22.3% during the second quarter. Rhumbline Advisers now owns 579,086 shares of the company’s stock worth $14,923,000 after purchasing an additional 105,474 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Toast by 19.1% in the 2nd quarter. TD Asset Management Inc now owns 481,443 shares of the company’s stock valued at $12,407,000 after acquiring an additional 77,295 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

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.