Toast (NYSE:TOST) Price Target Increased to $33.00 by Analysts at Morgan Stanley

Toast (NYSE:TOST) had its price target upped by Morgan Stanley from $30.00 to $33.00 in a report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts also recently commented on TOST. Stephens increased their target price on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Wedbush raised Toast to a “strong-buy” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.94.

Toast Stock Down 0.5 %

Toast stock opened at $29.37 on Tuesday. The company has a market capitalization of $13.30 billion, a P/E ratio of -58.74 and a beta of 1.76. The stock’s 50 day moving average is $26.46 and its 200 day moving average is $25.27. Toast has a twelve month low of $13.77 and a twelve month high of $30.70.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. As a group, equities analysts expect that Toast will post -0.1 EPS for the current year.

Insider Buying and Selling

In related news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the transaction, the president now directly owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $1,519,500.00. Following the sale, the executive now directly owns 38,266 shares of the company’s stock, valued at $1,162,903.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Fredette sold 211,686 shares of the firm’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 sale, the president now directly 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. In the last three months, insiders have sold 1,387,269 shares of company stock valued at $38,394,140. 13.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Toast by 2,731.0% during the third quarter. International Assets Investment Management LLC now owns 95,971 shares of the company’s stock valued at $2,717,000 after purchasing an additional 92,581 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Toast by 1.6% during the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after purchasing an additional 441 shares in the last quarter. Raleigh Capital Management Inc. grew its position in shares of Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 720 shares in the last quarter. 1858 Wealth Management LLC purchased a new position in shares of Toast during the third quarter valued at about $209,000. Finally, Toth Financial Advisory Corp purchased a new position in shares of Toast during the third quarter valued at about $28,000. 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.