Toast (NYSE:TOST) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Toast (NYSE:TOST) had its target price boosted by BMO Capital Markets from $46.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 23.37% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. DA Davidson reissued a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Toast in a report on Thursday, December 5th. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Wednesday, November 20th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Toast in a report on Thursday. Royal Bank of Canada lifted their price objective on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods lifted their price target on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.09.

Toast Trading Down 2.7 %

TOST stock traded down $1.07 during midday trading on Thursday, hitting $38.91. The stock had a trading volume of 2,792,197 shares, compared to its average volume of 5,625,013. The firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of -299.81, a P/E/G ratio of 2.27 and a beta of 1.98. Toast has a 52 week low of $20.49 and a 52 week high of $44.12. The stock has a 50-day simple moving average of $38.59 and a 200 day simple moving average of $33.30.

Toast (NYSE:TOST) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. On average, equities analysts forecast that Toast will post 0.03 EPS for the current year.

Insider Buying and Selling

In other news, Director David Yuan sold 189,785 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the transaction, the director now directly owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,564 shares of company stock worth $13,577,845 over the last three months. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Several institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new stake in Toast during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new stake in Toast during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. bought a new stake in Toast during the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Toast during the 4th quarter worth approximately $40,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.