Toast (NYSE:TOST) Upgraded at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Toast (NYSE:TOST) from a neutral rating to an outperform rating in a research note released on Monday, Marketbeat.com reports. They currently have $40.00 price target on the stock.

Several other research analysts have also commented on TOST. Robert W. Baird cut their price target on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Truist Financial reduced their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. UBS Group dropped their price objective on shares of Toast from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Needham & Company LLC raised their price target on Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Toast in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average target price of $45.18.

Toast Stock Performance

Shares of NYSE TOST opened at $35.16 on Monday. The stock’s 50-day simple moving average is $36.17 and its 200-day simple moving average is $40.96. The firm has a market capitalization of $18.10 billion, a PE ratio of 81.76 and a beta of 1.94. Toast has a fifty-two week low of $28.12 and a fifty-two week high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business posted $0.07 EPS. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. On average, sell-side analysts forecast that Toast will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 1,732 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $61,555.28. Following the completion of the sale, the president owned 900,264 shares of the company’s stock, valued at approximately $31,995,382.56. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 1,059 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $37,636.86. Following the completion of the transaction, the general counsel directly owned 229,017 shares in the company, valued at approximately $8,139,264.18. This represents a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,759 shares of company stock valued at $1,769,270 over the last 90 days. Company insiders own 12.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TOST. RiverPark Advisors LLC bought a new position in Toast during the second quarter worth about $30,000. Ameritas Advisory Services LLC bought a new position in Toast in the 2nd quarter valued at about $31,000. Quent Capital LLC bought a new position in shares of Toast during the third quarter worth approximately $27,000. REAP Financial Group LLC grew its holdings in Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after buying an additional 506 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Toast during the third quarter worth about $30,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Company Profile

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.