Toast (NYSE:TOST) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Toast (NYSE:TOST) in a report issued on Thursday,Benzinga reports. They currently have a $50.00 price target on the stock.

TOST has been the subject of a number of other reports. Wedbush lifted their price target on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. DA Davidson reissued a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. BMO Capital Markets started coverage on shares of Toast in a research note on Monday, January 6th. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price objective on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.23.

Toast Trading Up 1.2 %

NYSE TOST opened at $40.45 on Thursday. Toast has a 1-year low of $20.49 and a 1-year high of $44.12. The company has a 50 day moving average of $38.60 and a 200-day moving average of $33.35.

Toast (NYSE:TOST) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Sell-side analysts expect that Toast will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 1,006 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $39,867.78. Following the transaction, the executive now owns 48,488 shares in the company, valued at approximately $1,921,579.44. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Yuan sold 189,785 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the transaction, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 339,564 shares of company stock worth $13,577,845. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Toast by 0.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock valued at $1,408,000 after buying an additional 301 shares during the period. Keel Point LLC lifted its holdings in Toast by 2.7% in the fourth quarter. Keel Point LLC now owns 12,269 shares of the company’s stock valued at $447,000 after buying an additional 326 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Toast by 11.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock valued at $125,000 after buying an additional 358 shares during the period. Mirador Capital Partners LP lifted its holdings in Toast by 0.9% in the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock valued at $1,529,000 after buying an additional 360 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares during the period. 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.