Toast (NYSE:TOST) Rating Lowered to Neutral at BNP Paribas

BNP Paribas lowered shares of Toast (NYSE:TOST) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have $37.00 target price on the stock.

Several other analysts have also recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Morgan Stanley raised their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada raised their price target on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.86.

Toast Price Performance

TOST stock opened at $42.74 on Wednesday. The business’s 50-day moving average is $31.45 and its two-hundred day moving average is $27.18. The firm has a market capitalization of $20.13 billion, a P/E ratio of -328.77, a P/E/G ratio of 53.98 and a beta of 1.74. Toast has a 1 year low of $13.92 and a 1 year high of $43.29.

Insider Transactions at Toast

In other Toast news, Director Richard Kent Bennett sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the completion of the sale, the director now directly owns 418,591 shares of the company’s stock, valued at $15,349,731.97. This represents a 19.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The trade was a 7.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,498,536 shares of company stock worth $43,997,467. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. West Branch Capital LLC purchased a new position in Toast in the 2nd quarter valued at $26,000. LRI Investments LLC purchased a new stake in shares of Toast in the first quarter valued at about $27,000. Toth Financial Advisory Corp acquired a new position in shares of Toast during the third quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toast during the second quarter worth about $33,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Toast in the second quarter valued at about $34,000. Institutional investors and hedge funds 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.