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

Toast (NYSE:TOST) had its price objective lifted by Stephens from $28.00 to $30.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

TOST has been the subject of a number of other research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. Finally, Robert W. Baird upped their price objective on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and an average price target of $28.78.

Toast Stock Performance

Shares of Toast stock opened at $29.52 on Friday. The company has a market cap of $13.61 billion, a P/E ratio of -101.79 and a beta of 1.76. The firm has a 50-day simple moving average of $26.37 and a two-hundred day simple moving average of $25.22. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $30.70.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion during 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 company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) earnings per share. Equities research analysts forecast that Toast will post -0.1 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 1,856 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $44,544.00. Following the completion of the sale, the chief executive officer now owns 1,132,708 shares in the company, valued at approximately $27,184,992. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Elena Gomez sold 2,162 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $51,888.00. Following the completion of the sale, the chief financial officer now owns 183,931 shares in the company, valued at $4,414,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aman Narang sold 1,856 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $44,544.00. Following the completion of the sale, the chief executive officer now owns 1,132,708 shares of the company’s stock, valued at $27,184,992. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,006,021 shares of company stock valued at $26,808,638. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently made changes to their positions in TOST. Whale Rock Capital Management LLC acquired a new position in Toast during the first quarter worth about $179,111,000. Capital International Investors raised its position in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after acquiring an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after buying an additional 3,445,788 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after buying an additional 1,604,716 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Toast by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock worth $669,729,000 after buying an additional 1,598,248 shares in the last quarter. 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.