Toast (NYSE:TOST) Upgraded by BNP Paribas Exane to “Outperform” Rating

Toast (NYSE:TOST) was upgraded by equities researchers at BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a research note issued on Monday,Benzinga reports. The firm presently has a $40.00 price target on the stock. BNP Paribas Exane’s price objective would indicate a potential upside of 17.16% from the company’s previous close.

TOST has been the topic of several other reports. The Goldman Sachs Group reduced their price objective on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. DA Davidson set a $42.00 price objective on shares of Toast in a research report on Wednesday, November 5th. Keefe, Bruyette & Woods cut their target price on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada set a $45.00 target price on Toast in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.18.

Toast Stock Performance

NYSE:TOST opened at $34.14 on Monday. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 79.40 and a beta of 1.94. Toast has a one year low of $28.12 and a one year high of $49.66. The stock has a 50-day simple moving average of $36.39 and a 200 day simple moving average of $41.16.

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

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 13,652 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $485,465.12. Following the sale, the chief executive officer owned 318,150 shares in the company, valued at approximately $11,313,414. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 9,054 shares of Toast stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $321,960.24. Following the sale, the chief financial officer directly owned 149,572 shares in the company, valued at approximately $5,318,780.32. This trade represents a 5.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,759 shares of company stock worth $1,769,270 in the last quarter. 12.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. RiverPark Advisors LLC acquired a new stake in Toast in the second quarter worth about $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Toast during the 2nd quarter worth about $31,000. Quent Capital LLC acquired a new stake in shares of Toast in the 3rd quarter worth approximately $27,000. REAP Financial Group LLC boosted its holdings in shares of Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after acquiring an additional 506 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of Toast during the third quarter valued at approximately $30,000. Institutional investors and hedge funds 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.