Toast (NYSE:TOST) Price Target Raised to $35.00

Toast (NYSE:TOST) had its price target boosted by DA Davidson from $32.00 to $35.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. upped their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 target price on shares of Toast in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Morgan Stanley raised their price target on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $29.26.

Toast Trading Down 0.4 %

Shares of NYSE:TOST opened at $30.02 on Tuesday. The firm’s 50 day simple moving average is $27.10 and its 200 day simple moving average is $25.51. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $30.78.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. 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 posted ($0.19) earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. Sell-side analysts predict that Toast will post -0.1 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the sale, the general counsel now owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of Toast 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 sale, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,370,721 shares of company stock valued at $37,996,988. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in shares of Toast in the first quarter valued at about $27,000. West Branch Capital LLC acquired a new stake in Toast during the 2nd quarter valued at approximately $26,000. Toth Financial Advisory Corp bought a new position in Toast during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Toast in the 2nd quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Toast in the 2nd quarter valued at $34,000. 82.91% of the stock is owned by institutional investors.

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.