Toast (NYSE:TOST) Given New $45.00 Price Target at BMO Capital Markets

Toast (NYSE:TOST) had its target price hoisted by equities research analysts at BMO Capital Markets from $44.00 to $45.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 5.42% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. UBS Group raised their price target on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Evercore ISI started coverage on shares of Toast in a report on Wednesday, April 9th. They set an “in-line” rating and a $29.00 price objective for the company. Canaccord Genuity Group boosted their price objective on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their price target on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Toast in a report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.91.

Toast Stock Up 4.5%

NYSE:TOST traded up $1.85 on Monday, hitting $42.69. The stock had a trading volume of 9,334,857 shares, compared to its average volume of 6,820,525. The company has a market cap of $21.23 billion, a PE ratio of -4,260.74, a P/E/G ratio of 2.16 and a beta of 1.98. Toast has a 52 week low of $21.32 and a 52 week high of $44.12. The business’s fifty day moving average is $34.56 and its 200 day moving average is $36.91.

Toast (NYSE:TOST) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Equities analysts predict that Toast will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other news, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the sale, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. This represents a 29.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Stephen Fredette sold 44,056 shares of Toast stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.15, for a total value of $1,548,568.40. Following the completion of the sale, the president now directly owns 1,447,717 shares in the company, valued at $50,887,252.55. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 335,991 shares of company stock valued at $11,614,520 in the last ninety days. 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 made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Toast by 3.5% in the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock valued at $1,457,675,000 after acquiring an additional 1,471,352 shares in the last quarter. Capital International Investors grew its stake in Toast by 1.9% in the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after purchasing an additional 785,641 shares in the last quarter. FMR LLC raised its stake in Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Toast in the 4th quarter worth about $282,010,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Toast by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company’s stock valued at $256,970,000 after acquiring an additional 195,805 shares during the period. Institutional investors and hedge funds 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.