Toast (NYSE:TOST) Price Target Raised to $27.00 at Royal Bank of Canada

Toast (NYSE:TOST) had its price target increased by Royal Bank of Canada from $23.00 to $27.00 in a research report report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of Toast from $17.00 to $19.00 and gave the stock an underweight rating in a research note on Wednesday. Mizuho reissued a neutral rating and set a $17.00 price objective on shares of Toast in a research note on Wednesday, March 27th. Evercore ISI started coverage on shares of Toast in a research note on Monday, March 4th. They set an outperform rating and a $32.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Toast from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, February 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Toast from $25.00 to $26.00 and gave the stock a market perform rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $25.80.

Toast Stock Performance

Shares of NYSE TOST remained flat at $26.82 during mid-day trading on Wednesday. 15,196,707 shares of the stock traded hands, compared to its average volume of 8,284,737. The stock has a market capitalization of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77. Toast has a one year low of $13.77 and a one year high of $27.57. The company has a 50 day simple moving average of $23.71 and a two-hundred day simple moving average of $19.57.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned ($0.16) EPS. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. On average, equities research analysts anticipate that Toast will post -0.22 EPS for the current fiscal year.

Insider Activity

In other news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the sale, the executive now directly owns 22,956 shares in the company, valued at $579,409.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the sale, the executive now directly owns 22,956 shares in the company, valued at approximately $579,409.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the transaction, the president now owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold 193,010 shares of company stock worth $4,711,760 over the last ninety days. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC bought a new position in Toast during the first quarter worth about $37,000. Principal Securities Inc. bought a new position in Toast during the fourth quarter worth about $30,000. Cape Investment Advisory Inc. bought a new position in Toast during the fourth quarter worth about $31,000. SRS Capital Advisors Inc. bought a new stake in shares of Toast during the third quarter worth approximately $33,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Toast by 8,181.8% during the third quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock worth $34,000 after acquiring an additional 1,800 shares during the period. Institutional investors 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.