Toast (NYSE:TOST) PT Raised to $28.00

Toast (NYSE:TOST) had its price objective hoisted by investment analysts at Canaccord Genuity Group from $22.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 4.40% from the company’s current price.

TOST has been the topic of a number of other reports. Wells Fargo & Company boosted their price target on Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday. Redburn Atlantic raised Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, February 7th. BNP Paribas upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Thursday, March 7th. Robert W. Baird increased their target price on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, UBS Group lifted their price target on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.80.

Toast Price Performance

Shares of NYSE:TOST opened at $26.82 on Wednesday. The company has a 50 day moving average of $23.79 and a 200-day moving average of $19.62. Toast has a one year low of $13.77 and a one year high of $27.57. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -52.59 and a beta of 1.77.

Toast (NYSE:TOST) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned ($0.16) EPS. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. Equities research analysts anticipate that Toast will post -0.22 earnings per share for the current year.

Insider Buying and Selling at Toast

In other news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the transaction, the executive now directly owns 22,956 shares in the company, valued at approximately $579,409.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the sale, the executive now owns 22,956 shares in the company, valued at approximately $579,409.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Stephen Fredette sold 2,272 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the transaction, the president now owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold 193,010 shares of company stock worth $4,711,760 over the last 90 days. Company insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Toast by 105.0% during the 3rd quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock worth $12,943,000 after buying an additional 353,903 shares during the period. Vanguard Group Inc. raised its stake in Toast by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after purchasing an additional 3,494,579 shares in the last quarter. ARK Investment Management LLC raised its stake in Toast by 101.5% in the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock worth $42,829,000 after purchasing an additional 1,181,409 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Toast by 1,542.9% in the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock valued at $1,047,000 after purchasing an additional 53,846 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Toast during the 3rd quarter worth approximately $936,000. 82.91% of the stock is 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.