Toast (NYSE:TOST) Now Covered by Analysts at BMO Capital Markets

Equities research analysts at BMO Capital Markets began coverage on shares of Toast (NYSE:TOST) in a note issued to investors on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $45.00 price target on the stock. BMO Capital Markets’ price target points to a potential upside of 20.35% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Stephens raised their price objective on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Piper Sandler lifted their price target on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $45.00 price objective (up from $34.00) on shares of Toast in a report on Monday, December 2nd. Bank of America boosted their target price on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company upped their price target on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.27.

Toast Price Performance

Shares of NYSE:TOST opened at $37.39 on Monday. The company has a market capitalization of $17.61 billion, a PE ratio of -287.62, a price-to-earnings-growth 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. The business has a fifty day moving average price of $38.15 and a two-hundred day moving average price of $30.40.

Insider Activity

In other news, CEO Aman Narang sold 1,646 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $51,157.68. Following the sale, the chief executive officer now owns 969,970 shares in the company, valued at approximately $30,146,667.60. This trade represents a 0.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Stephen Fredette sold 40,459 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total transaction of $1,174,929.36. Following the completion of the transaction, the president now owns 1,700,282 shares of the company’s stock, valued at $49,376,189.28. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,109,307 shares of company stock worth $38,235,613. 13.32% of the stock is currently owned by insiders.

Institutional Trading of Toast

A number of hedge funds have recently bought and sold shares of TOST. ValueAct Holdings L.P. bought a new position in Toast during the third quarter valued at approximately $438,301,000. FMR LLC boosted its stake in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares in the last quarter. Assenagon Asset Management S.A. grew 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 during the last quarter. Marshall Wace LLP raised its position in Toast by 175.8% in the 2nd quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after purchasing an additional 1,604,716 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its stake in Toast by 1,475.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after purchasing an additional 796,936 shares during 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.