Toast (NYSE:TOST) Price Target Raised to $28.00

Toast (NYSE:TOST) had its price target upped by Bank of America from $26.00 to $28.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. Mizuho upgraded Toast from a neutral rating to an outperform rating and lifted their target price for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Needham & Company LLC reiterated a buy rating and set a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Toast from $25.00 to $28.00 and gave the stock a neutral rating in a report on Tuesday, August 20th. The Goldman Sachs Group restated a buy rating and issued a $29.00 price target on shares of Toast in a report on Thursday, September 12th. Finally, Baird R W lowered Toast from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $28.33.

Toast Stock Performance

NYSE TOST opened at $26.97 on Tuesday. The stock has a fifty day moving average of $25.03 and a 200-day moving average of $24.56. The stock has a market capitalization of $12.43 billion, a P/E ratio of -53.94 and a beta of 1.75. Toast has a 52 week low of $13.77 and a 52 week high of $27.90.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm earned ($0.19) earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. Equities research analysts forecast that Toast will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $25.43, for a total transaction of $317,875.00. Following the transaction, the chief financial officer now owns 200,561 shares of the company’s stock, valued at $5,100,266.23. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, President Stephen Fredette sold 3,810 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $97,688.40. Following the transaction, the president now owns 2,847,315 shares of the company’s stock, valued at $73,005,156.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elena Gomez sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $25.43, for a total value of $317,875.00. Following the completion of the transaction, the chief financial officer now directly owns 200,561 shares in the company, valued at approximately $5,100,266.23. The disclosure for this sale can be found here. Insiders have sold a total of 651,612 shares of company stock valued at $16,191,520 over the last 90 days. 13.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Several institutional investors have recently made changes to their positions in TOST. LRI Investments LLC bought a new stake in Toast during the first quarter worth $27,000. West Branch Capital LLC bought a new position in shares of Toast in the 2nd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Toast in the 2nd quarter valued at $33,000. 1620 Investment Advisors Inc. bought a new position in shares of Toast in the 2nd quarter valued at $34,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of Toast in the 1st quarter valued at $37,000. 82.91% of the stock is currently owned by institutional investors.

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.