Toast (NYSE:TOST) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Toast (NYSE:TOST) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $46.00 price target on the stock. Oppenheimer’s price target suggests a potential upside of 15.03% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. DA Davidson reiterated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a report on Thursday, December 5th. The Goldman Sachs Group dropped their target price on shares of Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Compass Point initiated coverage on Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price target on the stock. BMO Capital Markets assumed coverage on Toast in a research note on Monday, January 6th. They issued an “outperform” rating and a $45.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Toast currently has an average rating of “Hold” and a consensus price target of $35.74.

Toast Stock Performance

NYSE:TOST opened at $39.99 on Friday. The firm has a market cap of $18.84 billion, a P/E ratio of -307.62, a P/E/G ratio of 2.05 and a beta of 1.97. Toast has a fifty-two week low of $16.13 and a fifty-two week high of $44.12. The firm has a 50-day simple moving average of $38.87 and a two-hundred day simple moving average of $31.25.

Toast (NYSE:TOST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. During the same quarter last year, the firm earned ($0.09) earnings per share. On average, equities research analysts predict that Toast will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 1,646 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $51,157.68. Following the transaction, the chief executive officer now owns 969,970 shares of the company’s stock, valued at approximately $30,146,667.60. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now directly owns 182,451 shares of the company’s stock, valued at approximately $6,575,534.04. The trade was a 44.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 562,600 shares of company stock worth $21,823,932 in the last three months. 13.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in 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 buying an additional 8,205,053 shares during the period. ValueAct Holdings L.P. bought a new position in Toast in the third quarter worth approximately $438,301,000. State Street Corp increased its holdings in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares during the period. Geode Capital Management LLC raised its position in 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 in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after buying an additional 3,701,893 shares during the period. 82.91% of the stock is currently owned by institutional investors.

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.