Toast (NYSE:TOST) Price Target Raised to $30.00

Toast (NYSE:TOST) had its price objective lifted by analysts at Robert W. Baird from $28.00 to $30.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 5.86% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Toast in a research note on Thursday, September 12th. Finally, Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.44.

Toast Trading Down 1.9 %

Shares of NYSE TOST opened at $28.34 on Monday. The firm has a market capitalization of $13.06 billion, a PE ratio of -97.72 and a beta of 1.76. The firm’s 50-day moving average is $25.70 and its 200-day moving average is $25.00. Toast has a 1 year low of $13.77 and a 1 year high of $29.92.

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

Insiders Place Their Bets

In related news, President Stephen Fredette sold 39,768 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $29.02, for a total value of $1,154,067.36. Following the completion of the transaction, the president now owns 1,795,301 shares of the company’s stock, valued at approximately $52,099,635.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Toast news, President Stephen Fredette sold 39,768 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.02, for a total value of $1,154,067.36. Following the completion of the transaction, the president now directly owns 1,795,301 shares in the company, valued at $52,099,635.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Michael Matlock sold 9,173 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $220,152.00. Following the transaction, the insider now directly owns 55,548 shares in the company, valued at $1,333,152. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 930,562 shares of company stock valued at $24,371,059 in the last quarter. 13.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Several hedge funds have recently bought and sold shares of TOST. Vanguard Group Inc. increased its holdings in shares of Toast by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after purchasing an additional 1,598,248 shares during the last quarter. Capital International Investors grew its stake in Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after buying an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after acquiring an additional 3,445,788 shares during the period. Champlain Investment Partners LLC lifted its position in Toast by 9.1% during the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after acquiring an additional 833,390 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in shares of Toast during the first quarter worth approximately $179,111,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.