JPMorgan Chase & Co. Raises Toast (NYSE:TOST) Price Target to $36.00

Toast (NYSE:TOST) had its price objective raised by JPMorgan Chase & Co. from $28.00 to $36.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the stock. Stephens increased their price target on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Wedbush increased their price target on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Bank of America increased their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.30.

Toast Stock Performance

Shares of NYSE:TOST opened at $37.96 on Friday. The company has a 50-day simple moving average of $28.45 and a 200-day simple moving average of $26.11. Toast has a one year low of $13.77 and a one year high of $38.40. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of -291.96 and a beta of 1.74.

Insider Activity

In other news, President Stephen Fredette sold 211,686 shares of the 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 sale, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Stephen Fredette sold 211,686 shares of the firm’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 transaction of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade 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 can be accessed through this hyperlink. Also, Director Christopher P. Comparato sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the sale, the director now owns 120,107 shares in the company, valued at approximately $2,924,605.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,375,651 shares of company stock worth $38,150,212 over the last ninety days. 13.32% of the stock is currently owned by insiders.

Institutional Trading of Toast

Hedge funds have recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in Toast during the second quarter worth approximately $26,000. LRI Investments LLC purchased a new stake in shares of Toast during the 1st quarter valued at $27,000. Toth Financial Advisory Corp purchased a new stake in shares of Toast during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Toast during the 2nd quarter valued at $33,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Toast during the 2nd quarter valued at $34,000. Institutional investors and hedge funds 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.