Toast (NYSE:TOST) Coverage Initiated at BMO Capital Markets

Research analysts at BMO Capital Markets began coverage on shares of Toast (NYSE:TOST) in a report released on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $45.00 price target on the stock. BMO Capital Markets’ price objective suggests a potential upside of 19.68% from the company’s previous close.

TOST has been the subject of several other reports. 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. Morgan Stanley increased their target price on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted 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. Robert W. Baird increased their price objective on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, December 9th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.27.

Toast Price Performance

Shares of Toast stock opened at $37.60 on Monday. The firm has a fifty day moving average price of $37.83 and a two-hundred day moving average price of $30.18. The company has a market cap of $17.71 billion, a PE ratio of -289.23, a price-to-earnings-growth ratio of 23.40 and a beta of 1.93. Toast has a fifty-two week low of $16.13 and a fifty-two week high of $44.12.

Insider Activity

In other Toast news, CEO Aman Narang sold 1,646 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $51,157.68. Following the transaction, the chief executive officer now owns 969,970 shares of the company’s stock, valued at approximately $30,146,667.60. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Stephen Fredette sold 39,768 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.02, for a total value of $1,154,067.36. Following the transaction, the president now owns 1,795,301 shares of the company’s stock, valued at $52,099,635.02. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,149,075 shares of company stock valued at $39,389,680. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the period. ValueAct Holdings L.P. acquired a new position in Toast in the third quarter valued at about $438,301,000. State Street Corp increased its holdings in shares of Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after acquiring an additional 206,789 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after purchasing an additional 155,212 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after purchasing an additional 3,701,893 shares in the last quarter. 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.