Toast (NYSE:TOST) Shares Gap Up to $27.33

Toast, Inc. (NYSE:TOST)’s share price gapped up before the market opened on Friday . The stock had previously closed at $27.33, but opened at $28.50. Toast shares last traded at $29.84, with a volume of 1,759,438 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Bank of America boosted their price target on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Morgan Stanley raised their price objective on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.33.

Toast Trading Up 2.5 %

The firm has a market cap of $12.91 billion, a price-to-earnings ratio of -56.00 and a beta of 1.75. The firm’s 50-day moving average is $25.17 and its 200-day moving average is $24.69.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned ($0.19) EPS. The company’s quarterly revenue was up 27.0% on a year-over-year basis. Analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 3,810 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40. Following the completion of the sale, the president now directly owns 2,847,315 shares of the company’s stock, valued at $73,005,156.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Toast news, President Stephen Fredette sold 3,810 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $97,688.40. Following the completion of the transaction, the president now owns 2,847,315 shares in the company, valued at $73,005,156.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Comparato sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the completion of the sale, the director now directly owns 120,107 shares in the company, valued at approximately $2,924,605.45. The disclosure for this sale can be found here. Insiders have sold 804,707 shares of company stock valued at $20,382,344 in the last three months. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its stake in Toast by 37.5% in the fourth quarter. US Bancorp DE now owns 52,142 shares of the company’s stock worth $952,000 after purchasing an additional 14,221 shares during the last quarter. Hsbc Holdings PLC boosted its position in Toast by 76.7% during the 4th quarter. Hsbc Holdings PLC now owns 90,222 shares of the company’s stock valued at $1,651,000 after buying an additional 39,166 shares during the period. TD Asset Management Inc increased its position in shares of Toast by 7.0% in the fourth quarter. TD Asset Management Inc now owns 115,148 shares of the company’s stock valued at $2,103,000 after acquiring an additional 7,500 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Toast by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 157,138 shares of the company’s stock valued at $2,869,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in Toast during the 4th quarter valued at about $332,000. 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.