Toast (NYSE:TOST) Price Target Raised to $36.00 at JPMorgan Chase & Co.

Toast (NYSE:TOST) had its target price raised by JPMorgan Chase & Co. from $28.00 to $36.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 2.31% from the company’s current price.

Several other equities analysts have also recently issued reports on TOST. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. DA Davidson increased their price objective on Toast from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Morgan Stanley lifted their target price on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $27.00 price target on shares of Toast in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.15.

Toast Stock Performance

Shares of NYSE:TOST traded up $4.18 during trading on Friday, reaching $36.85. The company had a trading volume of 15,541,702 shares, compared to its average volume of 7,155,776. The firm’s fifty day moving average is $27.94 and its 200 day moving average is $25.86. The firm has a market capitalization of $16.99 billion, a PE ratio of -126.69 and a beta of 1.74. Toast has a twelve month low of $13.77 and a twelve month high of $38.40.

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

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Toast news, CRO Jonathan Vassil sold 1,367 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the transaction, the executive now directly owns 39,834 shares in the company, valued at $1,238,040.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,375,651 shares of company stock worth $38,150,212 over the last ninety days. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. West Branch Capital LLC bought a new position in shares of Toast during the 2nd quarter worth approximately $26,000. LRI Investments LLC bought a new stake in Toast in the 1st quarter valued at $27,000. Toth Financial Advisory Corp acquired a new stake in shares of Toast during the 3rd quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Toast in the second quarter valued at approximately $33,000. Finally, 1620 Investment Advisors Inc. bought a new position in Toast during the 2nd quarter worth $34,000. 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.