Toast (NYSE:TOST) Sets New 52-Week High Following Analyst Upgrade

Shares of Toast, Inc. (NYSE:TOST) hit a new 52-week high during trading on Friday after Stephens raised their price target on the stock from $28.00 to $30.00. Stephens currently has an equal weight rating on the stock. Toast traded as high as $30.49 and last traded at $30.32, with a volume of 1206291 shares. The stock had previously closed at $29.54.

TOST has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. Bank of America lifted their target price on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. The Goldman Sachs Group upped their price target on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Finally, Robert W. Baird boosted their price objective on Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.78.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Toast

Several large investors have recently added to or reduced their stakes in TOST. West Branch Capital LLC bought a new position in shares of Toast in the second quarter worth about $26,000. LRI Investments LLC acquired a new position in Toast during the 1st quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Toast in the second quarter valued at $33,000. 1620 Investment Advisors Inc. bought a new position in shares of Toast in the 2nd quarter valued at about $34,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of Toast in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 2.6 %

The company has a market cap of $13.73 billion, a price-to-earnings ratio of -60.64 and a beta of 1.76. The business’s 50 day moving average price is $26.26 and its 200-day moving average price is $25.16.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted ($0.19) EPS. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities research analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

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.