Toast (NYSE:TOST) Coverage Initiated at Compass Point

Investment analysts at Compass Point started coverage on shares of Toast (NYSE:TOST) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $49.00 price target on the stock. Compass Point’s price objective indicates a potential upside of 15.68% from the stock’s current price.

A number of other research analysts have also issued reports on TOST. Wedbush raised their target price on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Robert W. Baird raised their target price on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada raised their target price 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. The Goldman Sachs Group raised their target price on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus target price of $33.86.

Toast Trading Down 0.3 %

Toast stock opened at $42.36 on Wednesday. The company has a market capitalization of $19.95 billion, a P/E ratio of -325.85, a P/E/G ratio of 54.16 and a beta of 1.74. The firm’s fifty day simple moving average is $30.80 and its 200-day simple moving average is $26.94. Toast has a 1-year low of $13.77 and a 1-year high of $43.29.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 101,574 shares of Toast stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the transaction, the president now directly owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. The trade was a 4.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $28.41, for a total transaction of $355,125.00. Following the transaction, the chief financial officer now directly owns 207,518 shares in the company, valued at $5,895,586.38. This represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,475,651 shares of company stock valued at $43,037,212. 13.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

A number of hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank raised its stake in shares of Toast by 35.4% during the 3rd quarter. Toronto Dominion Bank now owns 46,319 shares of the company’s stock worth $1,311,000 after purchasing an additional 12,118 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Toast during the 3rd quarter worth $1,264,000. Geode Capital Management LLC raised 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 worth $193,992,000 after purchasing an additional 155,212 shares during the period. M&T Bank Corp raised its stake in shares of Toast by 20.0% during the 3rd quarter. M&T Bank Corp now owns 30,955 shares of the company’s stock worth $877,000 after purchasing an additional 5,169 shares during the period. Finally, Barclays PLC raised its stake in shares of Toast by 38.0% during the 3rd quarter. Barclays PLC now owns 309,426 shares of the company’s stock worth $8,758,000 after purchasing an additional 85,171 shares during the period. 82.91% of the stock is currently 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.