Compass Point Begins Coverage on Toast (NYSE:TOST)

Compass Point started coverage on shares of Toast (NYSE:TOST) in a report released on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $49.00 price target on the stock. Compass Point’s target price would suggest a potential upside of 15.28% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Wedbush increased their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Bank of America increased their target price on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Morgan Stanley raised their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.86.

Toast Stock Performance

Shares of TOST stock opened at $42.51 on Wednesday. The stock’s 50-day moving average is $30.45 and its two-hundred day moving average is $26.83. The firm has a market cap of $20.02 billion, a price-to-earnings ratio of -326.96, a PEG ratio of 51.74 and a beta of 1.74. Toast has a 1 year low of $13.77 and a 1 year high of $42.51.

Insider Activity at Toast

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the sale, the general counsel now directly owns 177,836 shares of the company’s stock, valued at approximately $5,404,436.04. This represents a 62.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the sale, the executive now directly owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. This represents a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,475,651 shares of company stock valued at $43,037,212 in the last quarter. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. lifted its position in shares of Toast by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after acquiring an additional 409 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Toast by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after buying an additional 421 shares during the period. Private Advisor Group LLC increased its stake in Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after buying an additional 441 shares during the period. CIBC Asset Management Inc increased its stake in Toast by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after buying an additional 448 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after purchasing an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.