DA Davidson Raises Toast (NYSE:TOST) Price Target to $35.00

Toast (NYSE:TOST) had its target price upped by DA Davidson from $32.00 to $35.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. Robert W. Baird upped their price target on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research note on Friday, September 6th. Stephens upped their price target on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group upped their target price on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Toast currently has an average rating of “Moderate Buy” and an average price target of $29.26.

Toast Stock Down 0.3 %

TOST opened at $30.03 on Tuesday. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of -103.55 and a beta of 1.76. Toast has a twelve month low of $13.77 and a twelve month high of $30.78. The company’s 50-day moving average price is $26.86 and its two-hundred day moving average price is $25.44.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. Toast’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.19) EPS. As a group, sell-side analysts anticipate that Toast will post -0.1 earnings per share for the current year.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 2,162 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $51,888.00. Following the transaction, the chief financial officer now owns 183,931 shares of the company’s stock, valued at $4,414,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Elena Gomez sold 2,162 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $51,888.00. Following the completion of the sale, the chief financial officer now owns 183,931 shares of the company’s stock, valued at approximately $4,414,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the sale, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,387,269 shares of company stock valued at $38,394,140 in the last quarter. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently made changes to their positions in the business. Capital International Investors boosted its stake in shares of Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after purchasing an additional 3,574,397 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Toast by 21.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after buying an additional 3,445,788 shares during the period. Champlain Investment Partners LLC boosted its position in Toast by 9.1% during the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after buying an additional 833,390 shares during the period. Whale Rock Capital Management LLC purchased a new stake in Toast during the 1st quarter valued at $179,111,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Toast by 4.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,880,795 shares of the company’s stock valued at $171,469,000 after buying an additional 280,418 shares during the period. Hedge funds and other institutional investors 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.