Toast (NYSE:TOST) Price Target Raised to $47.00 at UBS Group

Toast (NYSE:TOST) had its price target upped by UBS Group from $41.00 to $47.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. DA Davidson reissued a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price on the stock. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Wednesday, November 20th. BMO Capital Markets lifted their price objective on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.23.

Toast Stock Up 1.2 %

Shares of Toast stock opened at $40.45 on Thursday. Toast has a 12 month low of $20.49 and a 12 month high of $44.12. The business has a fifty day simple moving average of $38.60 and a 200 day simple moving average of $33.35.

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

Insider Activity at Toast

In other news, President Stephen Fredette sold 1,068 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 value of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 1,006 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 transaction of $39,867.78. Following the transaction, the executive now owns 48,488 shares in the company, valued at $1,921,579.44. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,564 shares of company stock valued at $13,577,845. 13.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. Capital International Investors increased its holdings in shares of Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after acquiring an additional 785,641 shares during the last quarter. FMR LLC raised its stake in Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after acquiring an additional 5,403,896 shares during the period. ValueAct Holdings L.P. acquired a new stake in Toast during the 3rd quarter valued at $438,301,000. Finally, State Street Corp boosted its position in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares during the period. 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.