Toast (NYSE:TOST) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of Toast (NYSE:TOST) in a research note published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $48.00 price target on the stock.

A number of other brokerages have also recently commented on TOST. Morgan Stanley increased their target price on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Wolfe Research upgraded shares of Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reduced their target price on shares of Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. BNP Paribas set a $37.00 target price on shares of Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their price objective on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Toast has an average rating of “Moderate Buy” and a consensus price target of $41.21.

Toast Stock Performance

NYSE:TOST opened at $42.97 on Monday. The company has a fifty day moving average of $37.29 and a two-hundred day moving average of $37.96. The stock has a market capitalization of $21.40 billion, a PE ratio of -4,292.41, a P/E/G ratio of 2.16 and a beta of 1.98. Toast has a fifty-two week low of $21.32 and a fifty-two week high of $45.56.

Insiders Place Their Bets

In other news, Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the transaction, the director now owns 164,796 shares of the company’s stock, valued at approximately $5,884,865.16. This trade represents a 29.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the transaction, the director now directly owns 13,260 shares of the company’s stock, valued at approximately $437,712.60. The trade was a 72.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 416,991 shares of company stock valued at $15,242,750 over the last 90 days. 13.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after purchasing an additional 155,446 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock valued at $14,319,000 after purchasing an additional 225,215 shares during the period. New York Life Investment Management LLC purchased a new position in shares of Toast in the fourth quarter valued at approximately $1,572,000. BNP Paribas Financial Markets purchased a new position in shares of Toast in the fourth quarter valued at approximately $83,684,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Toast by 129,058.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock valued at $75,466,000 after purchasing an additional 2,072,680 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.