Toast (NYSE:TOST) PT Lowered to $25.00

Toast (NYSE:TOSTGet Rating) had its target price reduced by equities researchers at Canaccord Genuity Group from $34.00 to $25.00 in a report issued on Friday, The Fly reports. Canaccord Genuity Group’s price target would suggest a potential upside of 66.78% from the stock’s previous close.

Several other research firms also recently weighed in on TOST. Moffett Nathanson began coverage on Toast in a report on Tuesday, April 5th. They set a “sell” rating and a $19.00 price objective on the stock. Robert W. Baird began coverage on Toast in a report on Monday, March 14th. They set an “outperform” rating and a $25.00 price objective on the stock. The Goldman Sachs Group cut their price objective on Toast from $34.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 8th. JPMorgan Chase & Co. cut their price objective on Toast from $58.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, February 16th. Finally, Needham & Company LLC cut their target price on Toast from $70.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.40.

Shares of TOST stock opened at $14.99 on Friday. The stock’s fifty day moving average price is $18.85 and its two-hundred day moving average price is $28.57. Toast has a fifty-two week low of $11.91 and a fifty-two week high of $69.93.

Toast (NYSE:TOSTGet Rating) last issued its earnings results on Tuesday, February 15th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.27). The business had revenue of $512.00 million during the quarter, compared to analysts’ expectations of $484.55 million. On average, analysts forecast that Toast will post -0.99 earnings per share for the current year.

In related news, insider Stephen Fredette sold 1,914 shares of the business’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $23.66, for a total value of $45,285.24. Following the completion of the sale, the insider now directly owns 4,307,108 shares of the company’s stock, valued at approximately $101,906,175.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elena Gomez sold 1,870 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $19.33, for a total value of $36,147.10. Following the completion of the sale, the chief financial officer now directly owns 58,484 shares of the company’s stock, valued at $1,130,495.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,233 shares of company stock valued at $1,242,593.

A number of institutional investors have recently modified their holdings of TOST. Raymond James & Associates bought a new stake in Toast in the 3rd quarter valued at about $364,000. Advisor Group Holdings Inc. bought a new stake in Toast during the 3rd quarter worth approximately $41,000. TD Asset Management Inc. bought a new stake in Toast during the 3rd quarter worth approximately $7,732,000. BlackRock Inc. bought a new stake in Toast during the 3rd quarter worth approximately $95,717,000. Finally, Lord Abbett & CO. LLC bought a new stake in Toast during the 3rd quarter worth approximately $4,995,000. 38.86% of the stock is owned by institutional investors and hedge funds.

Toast Company Profile (Get Rating)

Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.

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