Toast (NYSE:TOST) Price Target Raised to $40.00 at Royal Bank of Canada

Toast (NYSE:TOST) had its price objective increased by equities research analysts at Royal Bank of Canada from $27.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 6.72% from the company’s current price.

A number of other brokerages have also recently issued reports on TOST. Wells Fargo & Company upped their target price on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday. The Goldman Sachs Group raised their target price on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Bank of America upped their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Stephens raised their price objective on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.80.

Toast Stock Up 14.7 %

NYSE:TOST opened at $37.48 on Friday. Toast has a twelve month low of $13.77 and a twelve month high of $38.40. The stock’s 50 day moving average price is $28.19 and its two-hundred day moving average price is $25.99.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 1,917 shares of Toast stock in a transaction on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $59,580.36. Following the transaction, the chief financial officer now owns 159,615 shares in the company, valued at approximately $4,960,834.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Aman Narang sold 10,106 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the transaction, the chief executive officer now owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elena Gomez sold 1,917 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $59,580.36. Following the completion of the sale, the chief financial officer now owns 159,615 shares in the company, valued at $4,960,834.20. This represents a 0.00 % decrease in their position. 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 three months. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TOST. West Branch Capital LLC bought a new stake in Toast during the 2nd quarter worth $26,000. LRI Investments LLC acquired a new stake in shares of Toast during the first quarter valued at about $27,000. Toth Financial Advisory Corp bought a new stake in shares of Toast during the third 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. acquired a new position in shares of Toast in the second quarter valued at approximately $34,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.