Toast (NYSE:TOST) Price Target Raised to $35.00 at Piper Sandler

Toast (NYSE:TOST) had its target price raised by equities researchers at Piper Sandler from $25.00 to $35.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 11.21% from the company’s current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company boosted their price target on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Bank of America boosted their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Royal Bank of Canada boosted their price target on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Morgan Stanley boosted their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average target price of $32.75.

Toast Price Performance

Shares of TOST stock opened at $39.42 on Monday. The stock’s fifty day simple moving average is $28.76 and its 200 day simple moving average is $26.22. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of -303.23 and a beta of 1.74. Toast has a one year low of $13.77 and a one year high of $39.80.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the sale, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $36.55, for a total value of $3,655,000.00. Following the completion of the sale, the executive now directly owns 39,834 shares in the company, valued at $1,455,932.70. This 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 is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the sale, 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. Over the last quarter, insiders sold 1,475,651 shares of company stock worth $41,805,212. 13.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

Several large investors have recently modified their holdings of TOST. Whale Rock Capital Management LLC bought a new stake in shares of Toast in the first quarter worth about $179,111,000. Assenagon Asset Management S.A. increased its holdings in shares of Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after acquiring an additional 3,701,893 shares in the last quarter. Capital International Investors increased its holdings in shares of Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after acquiring an additional 3,574,397 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after buying an additional 3,445,788 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after buying an additional 1,604,716 shares during the period. 82.91% of the stock is currently owned by institutional investors.

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.