Toast (NYSE:TOST) Price Target Raised to $40.00 at Keefe, Bruyette & Woods

Toast (NYSE:TOST) had its price target lifted by Keefe, Bruyette & Woods from $29.00 to $40.00 in a research note released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other research firms have also weighed in on TOST. Compass Point assumed coverage on Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective for the company. DA Davidson restated a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Bank of America raised their price objective on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $45.00 target price (up previously from $34.00) on shares of Toast in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $34.81.

Toast Stock Performance

Shares of NYSE TOST opened at $38.31 on Monday. The company has a 50 day simple moving average of $34.52 and a two-hundred day simple moving average of $28.32. Toast has a fifty-two week low of $15.14 and a fifty-two week high of $44.12. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of -294.69, a P/E/G ratio of 23.81 and a beta of 1.92.

Insider Activity

In related news, CFO Elena Gomez sold 12,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $28.41, for a total value of $355,125.00. Following the transaction, the chief financial officer now directly owns 207,518 shares of the company’s stock, valued at approximately $5,895,586.38. This trade represents a 5.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 144,238 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $27.34, for a total value of $3,943,466.92. Following the sale, the president now directly owns 2,160,499 shares of the company’s stock, valued at $59,068,042.66. This represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,476,635 shares of company stock valued at $47,170,681 in the last quarter. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TOST. D.A. Davidson & CO. grew its stake in shares of Toast by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after acquiring an additional 409 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after purchasing an additional 421 shares during the period. Private Advisor Group LLC boosted its position in shares of Toast by 1.6% in the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after purchasing an additional 441 shares during the period. CIBC Asset Management Inc raised its position in shares of Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after purchasing an additional 448 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after purchasing an additional 496 shares during the period. Institutional investors own 82.91% of the company’s stock.

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.