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

Toast (NYSE:TOST) had its price target upped by Piper Sandler from $25.00 to $35.00 in a research report report published on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other analysts have also commented on TOST. The Goldman Sachs Group raised their price target on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Morgan Stanley raised their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their price target on shares of Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Finally, DA Davidson lifted 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. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.75.

Toast Price Performance

TOST opened at $39.92 on Monday. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of -307.08 and a beta of 1.74. Toast has a one year low of $13.77 and a one year high of $40.53. The business has a 50 day simple moving average of $29.08 and a two-hundred day simple moving average of $26.32.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 1,367 shares of the company’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 $42,486.36. Following the transaction, the executive now owns 39,834 shares in the company, valued at approximately $1,238,040.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CRO Jonathan Vassil sold 1,367 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the transaction, the executive now 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 211,686 shares of the 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 sale, the president now directly owns 2,638,023 shares in the company, valued at $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. In the last ninety days, insiders have sold 1,575,651 shares of company stock valued at $45,472,212. 13.32% of the stock is owned by insiders.

Institutional Trading of Toast

Large investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its holdings in Toast by 1.9% in the third quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after purchasing an additional 409 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Toast by 1.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after buying an additional 421 shares during the period. Private Advisor Group LLC boosted its stake in shares of Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after buying an additional 441 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Toast by 3.7% in the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock worth $357,000 after acquiring an additional 448 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after acquiring an additional 496 shares during the last quarter. 82.91% of the stock is currently 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.