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

Stock analysts at BMO Capital Markets assumed coverage on shares of Toast (NYSE:TOST) in a note issued to investors on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $45.00 price target on the stock. BMO Capital Markets’ price objective points to a potential upside of 19.68% from the company’s current price.

TOST has been the topic of a number of other research reports. Royal Bank of Canada raised their price objective on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Bank of America upped their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, Compass Point assumed coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and a consensus price target of $35.27.

Toast Stock Up 3.4 %

TOST stock opened at $37.60 on Monday. The company has a 50-day simple moving average of $37.83 and a 200 day simple moving average of $30.18. The company has a market capitalization of $17.71 billion, a P/E ratio of -289.23, a PEG 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 at Toast

In other Toast news, Director Christopher P. Comparato sold 145,000 shares of the 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 directly owns 182,451 shares of the company’s stock, valued at $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the sale, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This represents a 62.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,149,075 shares of company stock valued at $39,389,680. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Makena Capital Management LLC grew its holdings in Toast by 7.6% during the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after purchasing an additional 19,371 shares during the last quarter. KBC Group NV grew its stake in Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock valued at $1,213,000 after buying an additional 17,106 shares during the last quarter. Geode Capital Management LLC raised its holdings in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after acquiring an additional 155,212 shares during the period. MML Investors Services LLC raised its holdings in Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after acquiring an additional 65,957 shares during the period. Finally, Qsemble Capital Management LP lifted its position in Toast by 52.1% during the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after acquiring an additional 23,231 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

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.