Stephens Boosts Toast (NYSE:TOST) Price Target to $30.00

Toast (NYSE:TOST) had its price objective lifted by equities research analysts at Stephens from $28.00 to $30.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price target would suggest a potential downside of 1.86% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. Bank of America increased their price objective on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Wedbush raised Toast to a “strong-buy” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.78.

Toast Price Performance

Shares of Toast stock traded up $1.03 on Friday, reaching $30.57. The company had a trading volume of 3,413,761 shares, compared to its average volume of 7,172,448. The firm’s 50-day moving average price is $26.13 and its two-hundred day moving average price is $25.11. Toast has a 1 year low of $13.77 and a 1 year high of $30.70. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of -105.03 and a beta of 1.76.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. Toast’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) earnings per share. As a group, analysts anticipate that Toast will post -0.1 EPS for the current year.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 39,768 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $29.02, for a total transaction of $1,154,067.36. Following the completion of the transaction, the president now owns 1,795,301 shares of the company’s stock, valued at approximately $52,099,635.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $28.41, for a total value of $355,125.00. Following the completion of the transaction, the chief financial officer now owns 207,518 shares in the company, valued at approximately $5,895,586.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 39,768 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.02, for a total transaction of $1,154,067.36. Following the sale, the president now owns 1,795,301 shares in the company, valued at approximately $52,099,635.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 840,562 shares of company stock valued at $21,982,459 over the last 90 days. 13.32% of the stock is owned by insiders.

Institutional Trading of Toast

A number of large investors have recently modified their holdings of the stock. West Branch Capital LLC purchased a new stake in shares of Toast during the second quarter worth approximately $26,000. LRI Investments LLC acquired a new position in Toast during the 1st quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Toast in the 2nd quarter valued at approximately $33,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Toast in the 2nd quarter valued at $34,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Toast in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.