Toast (NYSE:TOST) Price Target Raised to $42.00

Toast (NYSE:TOST) had its target price lifted by analysts at JPMorgan Chase & Co. from $36.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 8.43% from the stock’s previous close.

TOST has been the topic of several other research reports. Compass Point began coverage on shares of Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on shares of Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday. Morgan Stanley raised their price target on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday. DA Davidson reiterated a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. Finally, Wells Fargo & Company raised their price objective on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Toast currently has an average rating of “Hold” and an average target price of $39.09.

Toast Stock Performance

Toast stock traded down $1.25 during trading on Thursday, reaching $38.74. 4,916,239 shares of the company’s stock were exchanged, compared to its average volume of 5,646,197. The company’s 50-day moving average is $38.59 and its two-hundred day moving average is $33.30. Toast has a 52-week low of $20.49 and a 52-week high of $44.12. The firm has a market cap of $18.24 billion, a price-to-earnings ratio of -297.35, a PEG ratio of 2.27 and a beta of 1.98.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. Analysts anticipate that Toast will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 1,006 shares of the 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 $39,867.78. Following the completion of the sale, the executive now owns 48,488 shares of the company’s stock, valued at approximately $1,921,579.44. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,564 shares of company stock worth $13,577,845 in the last quarter. 13.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its holdings in shares of Toast by 10.8% during the 4th quarter. Toronto Dominion Bank now owns 51,300 shares of the company’s stock valued at $1,870,000 after purchasing an additional 4,981 shares in the last quarter. Neo Ivy Capital Management raised its holdings in Toast by 104.9% in the 4th quarter. Neo Ivy Capital Management now owns 91,554 shares of the company’s stock worth $3,337,000 after acquiring an additional 46,878 shares during the period. Investment Management Corp VA ADV bought a new position in Toast in the 4th quarter worth $380,000. Pinkerton Retirement Specialists LLC bought a new position in Toast in the 4th quarter worth $224,000. Finally, Orion Capital Management LLC bought a new position in Toast in the 4th quarter worth $128,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.