Toast (NYSE:TOST) Price Target Cut to $43.00 by Analysts at JPMorgan Chase & Co.

Toast (NYSE:TOST) had its target price decreased by JPMorgan Chase & Co. from $52.00 to $43.00 in a report issued on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

TOST has been the topic of several other research reports. Wolfe Research restated an “outperform” rating and issued a $48.00 price target on shares of Toast in a report on Wednesday. Citigroup raised shares of Toast to a “strong-buy” rating in a research report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a research report on Thursday, July 17th. They issued a “buy” rating and a $54.00 price objective for the company. The Goldman Sachs Group lowered their price objective on shares of Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Finally, Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.61.

Toast Stock Performance

NYSE TOST opened at $39.03 on Wednesday. Toast has a one year low of $28.12 and a one year high of $49.66. The company’s 50 day moving average price is $38.66 and its 200 day moving average price is $41.38. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 90.77 and a beta of 1.94.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 16.56%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business posted $0.07 EPS. The company’s quarterly revenue was up 25.1% on a year-over-year basis. Sell-side analysts forecast that Toast will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Toast

In other news, CEO Aman Narang sold 1,732 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $61,555.28. Following the completion of the sale, the chief executive officer owned 319,939 shares of the company’s stock, valued at approximately $11,370,632.06. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,442 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $51,248.68. Following the sale, the executive directly owned 71,424 shares of the company’s stock, valued at $2,538,408.96. The trade was a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 62,259 shares of company stock valued at $2,299,020. Corporate insiders own 12.14% of the company’s stock.

Institutional Trading of Toast

A number of hedge funds have recently made changes to their positions in TOST. Quent Capital LLC acquired a new stake in shares of Toast during the third quarter worth approximately $27,000. RiverPark Advisors LLC acquired a new position in Toast in the second quarter worth $30,000. Alpine Bank Wealth Management acquired a new position in Toast in the third quarter worth $30,000. Ameritas Advisory Services LLC acquired a new position in Toast in the second quarter worth $31,000. Finally, REAP Financial Group LLC boosted its holdings in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after purchasing an additional 506 shares during the period. Institutional investors and hedge funds 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.