Toast (NYSE:TOST) Price Target Raised to $30.00

Toast (NYSE:TOST) had its price objective increased by Deutsche Bank Aktiengesellschaft from $24.00 to $30.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Several other research firms have also recently commented on TOST. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Stephens lifted their price target on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Morgan Stanley increased their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.30.

Toast Stock Up 4.3 %

Shares of TOST stock opened at $32.14 on Monday. Toast has a 52-week low of $13.77 and a 52-week high of $32.15. The stock’s 50-day moving average price is $27.78 and its 200 day moving average price is $25.81. The stock has a market capitalization of $14.82 billion, a PE ratio of -110.82 and a beta of 1.74.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. Analysts expect that Toast will post -0.1 earnings per share for the current fiscal year.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 1,367 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the transaction, the executive now owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the sale, the executive now owns 39,834 shares in the company, valued at approximately $1,238,040.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,375,651 shares of company stock valued at $38,150,212 over the last three months. 13.32% of the stock is currently owned by insiders.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Toast by 1.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after acquiring an additional 421 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after purchasing an additional 441 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Toast by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after purchasing an additional 448 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after buying an additional 496 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Toast by 8.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock worth $174,000 after buying an additional 520 shares during the period. 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.