Toast (NYSE:TOST) Given New $28.00 Price Target at Bank of America

Toast (NYSE:TOST) had its price target increased by Bank of America from $26.00 to $28.00 in a report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts also recently weighed in on TOST. Wedbush upgraded Toast to a strong-buy rating in a report on Friday, September 6th. Royal Bank of Canada reiterated a sector perform rating and set a $27.00 price target on shares of Toast in a report on Wednesday, August 7th. Baird R W downgraded Toast from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. JPMorgan Chase & Co. increased their price objective on shares of Toast from $25.00 to $28.00 and gave the stock a neutral rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group reissued a buy rating and set a $29.00 price objective on shares of Toast in a research report on Thursday, September 12th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $28.33.

Toast Stock Performance

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

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

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction that occurred on Monday, July 1st. The shares were 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 approximately $5,100,266.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Aman Narang sold 6,355 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the sale, the chief executive officer now owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Elena Gomez sold 12,500 shares of the firm’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 sale, the chief financial officer now owns 200,561 shares of the company’s stock, valued at approximately $5,100,266.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 651,612 shares of company stock valued at $16,191,520. 13.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several large investors have recently modified their holdings of TOST. Meritage Group LP purchased a new position in Toast in the 4th quarter valued at approximately $70,270,000. Susquehanna Fundamental Investments LLC purchased a new position in Toast in the 1st quarter valued at approximately $5,078,000. Syon Capital LLC purchased a new position in Toast in the 4th quarter valued at approximately $377,000. Robeco Institutional Asset Management B.V. grew its stake in Toast by 8,092.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock valued at $1,267,000 after buying an additional 68,539 shares in the last quarter. Finally, WoodTrust Financial Corp purchased a new position in Toast in the 1st quarter valued at approximately $754,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.