Toast’s (TOST) “Buy” Rating Reiterated at Needham & Company LLC

Toast (NYSE:TOST)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $50.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 32.69% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, December 9th. Royal Bank of Canada increased their price target on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Wells Fargo & Company increased their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Compass Point initiated coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.23.

Toast Stock Down 6.4 %

TOST opened at $37.68 on Thursday. The firm has a 50-day simple moving average of $38.60 and a two-hundred day simple moving average of $33.44. Toast has a 52 week low of $20.57 and a 52 week high of $44.12. The company has a market capitalization of $17.75 billion, a PE ratio of -3,764.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, sell-side analysts expect that Toast will post 0.38 earnings per share for the current year.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the completion of the sale, the director now directly owns 182,451 shares of the company’s stock, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,564 shares of company stock valued at $13,577,845 in the last three months. 13.32% of the stock is currently owned by company insiders.

Institutional Trading of Toast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank acquired a new stake in shares of Toast in the 4th quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Toast in the 4th quarter worth $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Toast in the 4th quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Toast in the 4th quarter worth $40,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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.