Stephens Increases Toast (NYSE:TOST) Price Target to $30.00

Toast (NYSE:TOST) had its target price lifted by equities research analysts at Stephens from $28.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Stephens’ price target points to a potential downside of 1.06% from the company’s previous close.

TOST has been the subject of several other reports. The Goldman Sachs Group increased their target price on Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Morgan Stanley raised their price objective on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.78.

Toast Trading Up 2.6 %

TOST opened at $30.32 on Friday. Toast has a twelve month low of $13.77 and a twelve month high of $30.70. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of -60.64 and a beta of 1.76. The company has a fifty day simple moving average of $26.26 and a 200 day simple moving average of $25.16.

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

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Christopher P. Comparato sold 125,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $29.21, for a total transaction of $3,651,250.00. Following the transaction, the director now directly owns 134,627 shares of the company’s stock, valued at approximately $3,932,454.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,006,021 shares of company stock valued at $26,808,638 in the last quarter. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Large investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Toast during the first quarter valued at approximately $5,078,000. WoodTrust Financial Corp bought a new stake in shares of Toast in the 1st quarter worth $754,000. QRG Capital Management Inc. lifted its holdings in shares of Toast by 39.7% in the second quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock valued at $2,190,000 after buying an additional 24,164 shares during the period. Epoch Investment Partners Inc. bought a new position in Toast during the first quarter valued at about $633,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Toast by 4.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,880,795 shares of the company’s stock worth $171,469,000 after acquiring an additional 280,418 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.