Toast (NYSE:TOST) Price Target Raised to $48.00

Toast (NYSE:TOST) had its price objective boosted by Canaccord Genuity Group from $43.00 to $48.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Compass Point began coverage on shares of Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Toast in a research note on Thursday. Morgan Stanley increased their price target on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday. BNP Paribas cut shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Wednesday, November 20th. Finally, Piper Sandler lifted their price objective on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.23.

Toast Trading Up 1.2 %

NYSE TOST opened at $40.45 on Thursday. The business’s fifty day moving average is $38.60 and its 200-day moving average is $33.35. Toast has a one year low of $20.49 and a one year high of $44.12.

Toast (NYSE:TOST) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Equities analysts predict that Toast will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 339,564 shares of company stock valued at $13,577,845. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. acquired a new stake in Toast during the 3rd quarter valued at approximately $438,301,000. FMR LLC increased its holdings in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after acquiring an additional 8,205,053 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Toast in the 4th quarter worth approximately $282,010,000. Norges Bank acquired a new stake in Toast in the fourth quarter worth about $205,888,000. Finally, Vanguard Group Inc. increased its stake in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after acquiring an additional 4,147,430 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.