Toast (NYSE:TOST) Now Covered by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Toast (NYSE:TOST) in a research note released on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $46.00 target price on the stock.

A number of other equities analysts have also weighed in on the company. Compass Point initiated coverage on Toast in a research note on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Stephens lifted their price objective on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Toast has a consensus rating of “Hold” and an average price target of $35.74.

Toast Price Performance

TOST stock opened at $39.33 on Friday. Toast has a 1-year low of $16.13 and a 1-year high of $44.12. The business’s 50 day simple moving average is $38.83 and its 200 day simple moving average is $31.41.

Toast (NYSE:TOST) last issued its quarterly earnings data 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. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm earned ($0.09) earnings per share. As a group, analysts anticipate that Toast will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Aman Narang sold 1,646 shares of the 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 transaction, the chief executive officer now directly owns 969,970 shares of the company’s stock, valued at $30,146,667.60. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Kent Bennett sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the transaction, the director now owns 418,591 shares in the company, valued at $15,349,731.97. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 562,600 shares of company stock valued at $21,823,932 in the last ninety days. 13.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Toast

A number of large investors have recently modified their holdings of TOST. American Century Companies Inc. raised its holdings in Toast by 25.5% during the second quarter. American Century Companies Inc. now owns 27,844 shares of the company’s stock worth $718,000 after buying an additional 5,651 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Toast by 46.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 333,013 shares of the company’s stock worth $8,582,000 after acquiring an additional 105,739 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Toast by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,161,572 shares of the company’s stock valued at $29,933,000 after acquiring an additional 68,875 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Toast during the 2nd quarter valued at about $2,879,000. Finally, Amalgamated Bank increased its holdings in Toast by 24.2% during the 2nd quarter. Amalgamated Bank now owns 29,973 shares of the company’s stock worth $772,000 after purchasing an additional 5,838 shares in the last quarter. 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.