Brokerages Set Toast, Inc. (NYSE:TOST) Target Price at $34.81

Toast, Inc. (NYSE:TOST) has earned a consensus recommendation of “Hold” from the twenty-three analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $35.27.

A number of equities research analysts have commented on TOST shares. BMO Capital Markets began coverage on shares of Toast in a report on Monday. They issued an “outperform” rating and a $45.00 price target for the company. Morgan Stanley raised their target price on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Wedbush upped their price target on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America raised their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 40,459 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total transaction of $1,174,929.36. Following the transaction, the president now directly owns 1,700,282 shares in the company, valued at $49,376,189.28. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher P. Comparato sold 125,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $29.21, for a total transaction of $3,651,250.00. Following the transaction, the director now directly owns 134,627 shares in the company, valued at $3,932,454.67. This trade represents a 48.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,109,307 shares of company stock valued at $38,235,613 over the last three months. 13.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently bought and sold shares of TOST. Nordea Investment Management AB increased its stake in shares of Toast by 9.6% during the fourth quarter. Nordea Investment Management AB now owns 33,882 shares of the company’s stock worth $1,238,000 after purchasing an additional 2,975 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Toast in the fourth quarter worth approximately $451,000. GAMMA Investing LLC increased its position in shares of Toast by 106.8% during the fourth quarter. GAMMA Investing LLC now owns 2,784 shares of the company’s stock worth $101,000 after purchasing an additional 1,438 shares in the last quarter. Synovus Financial Corp purchased a new position in Toast in the 3rd quarter valued at $425,000. Finally, Tidal Investments LLC boosted its stake in Toast by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 14,310 shares of the company’s stock worth $405,000 after purchasing an additional 734 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of TOST stock opened at $37.39 on Friday. The company has a market cap of $17.61 billion, a P/E ratio of -287.62, a PEG ratio of 23.40 and a beta of 1.97. Toast has a fifty-two week low of $16.13 and a fifty-two week high of $44.12. The stock has a 50 day simple moving average of $38.15 and a two-hundred day simple moving average of $30.40.

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.