Piper Sandler Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its price objective boosted by Piper Sandler from $25.00 to $35.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the company. DA Davidson boosted their price target on Toast from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Stephens upped their price objective on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Robert W. Baird upped their target price on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley increased their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada increased their price objective on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Toast has an average rating of “Hold” and a consensus price target of $32.30.

Toast Price Performance

NYSE:TOST opened at $37.96 on Monday. Toast has a 12-month low of $13.77 and a 12-month high of $38.40. The firm has a market capitalization of $17.50 billion, a P/E ratio of -291.96 and a beta of 1.74. The business has a 50 day simple moving average of $28.45 and a 200 day simple moving average of $26.11.

Insider Activity

In other news, CEO Aman Narang sold 10,106 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the transaction, the chief executive officer now owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Toast news, CEO Aman Narang sold 10,106 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the sale, the chief executive officer now owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 value of $59,580.36. Following the completion of the sale, the chief financial officer now directly owns 159,615 shares in the company, valued at $4,960,834.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,375,651 shares of company stock valued at $38,150,212. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Makena Capital Management LLC grew its holdings in shares of Toast by 7.6% during the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after purchasing an additional 19,371 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Toast during the 3rd quarter worth approximately $257,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Toast during the 3rd quarter worth approximately $1,912,000. Quest Partners LLC acquired a new stake in shares of Toast during the 3rd quarter worth approximately $1,391,000. Finally, Swiss National Bank lifted its position in shares of Toast by 3.9% during the 3rd quarter. Swiss National Bank now owns 1,075,600 shares of the company’s stock worth $30,450,000 after buying an additional 40,600 shares during the period. 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.