Toast (NYSE:TOST) Downgraded to "Neutral" Rating by BNP Paribas

BNP Paribas downgraded shares of Toast (NYSE:TOST - Free Report) from an outperform rating to a neutral rating in a research note published on Wednesday morning, Marketbeat.com reports. The firm currently has $37.00 price objective on the stock.

A number of other brokerages have also recently weighed in on TOST. Stephens lifted their price target on Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. DA Davidson boosted their price objective on Toast from $35.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Bank of America boosted their target price on Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Finally, Morgan Stanley raised their target price on Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Toast has a consensus rating of "Hold" and a consensus target price of $33.86.

Toast Stock Performance

TOST remained flat at $42.50 during trading hours on Wednesday. The company had a trading volume of 10,952,337 shares, compared to its average volume of 7,346,083. The stock has a 50 day simple moving average of $30.45 and a 200-day simple moving average of $26.83. Toast has a 52-week low of $13.77 and a 52-week high of $42.85. The firm has a market capitalization of $20.02 billion, a PE ratio of -326.92, a price-to-earnings-growth ratio of 51.74 and a beta of 1.74.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 101,574 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the sale, the president now directly owns 2,395,685 shares of the company's stock, valued at approximately $61,640,975.05. This trade represents a 4.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aman Narang sold 10,106 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares in the company, valued at $26,883,998.15. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,475,651 shares of company stock worth $43,037,212. Company insiders own 13.32% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. West Branch Capital LLC acquired a new stake in Toast in the 2nd quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in Toast in the first quarter valued at $27,000. Toth Financial Advisory Corp purchased a new stake in Toast in the third quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast in the second quarter valued at $33,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Toast in the second quarter valued at about $34,000. 82.91% of the stock is owned by hedge funds and other 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.