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

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

Other analysts also recently issued reports about the company. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Wednesday, November 20th. Royal Bank of Canada increased their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. The Goldman Sachs Group dropped their price target on shares of Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. DA Davidson restated a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. Finally, BMO Capital Markets initiated coverage on Toast in a report on Monday, January 6th. They set an “outperform” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.74.

Toast Stock Down 1.7 %

Shares of NYSE:TOST opened at $39.33 on Friday. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of -302.52, a PEG ratio of 2.05 and a beta of 1.97. Toast has a 12 month low of $16.13 and a 12 month high of $44.12. The company’s fifty day simple moving average is $38.83 and its 200 day simple moving average is $31.51.

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

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 1,367 shares of the 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 transaction, the executive now owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. This represents a 3.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the sale, the director now directly owns 182,451 shares in the company, valued at approximately $6,575,534.04. The trade was a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 562,600 shares of company stock valued at $21,823,932. 13.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Toast

Large investors have recently modified their holdings of the stock. Makena Capital Management LLC raised its holdings in shares of 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 boosted its position in Toast by 66.5% in the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after purchasing an additional 17,106 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after purchasing an additional 155,212 shares during the period. MML Investors Services LLC increased its position in shares of Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after purchasing an additional 65,957 shares during the last quarter. Finally, Qsemble Capital Management LP lifted its stake in shares of Toast by 52.1% in the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after purchasing an additional 23,231 shares during the period. Hedge funds and other 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.