UBS Group Boosts Toast (NYSE:TOST) Price Target to $31.00

Toast (NYSE:TOSTGet Free Report) had its price target raised by equities research analysts at UBS Group from $22.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 24.40% from the company’s current price.

TOST has been the subject of a number of other research reports. The Goldman Sachs Group raised Toast from a “neutral” rating to a “buy” rating and upped their target price for the stock from $16.00 to $24.00 in a report on Wednesday, January 10th. Redburn Atlantic raised Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a report on Wednesday, February 7th. Mizuho reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Toast in a report on Wednesday. Royal Bank of Canada increased their price target on Toast from $19.00 to $23.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Finally, Bank of America cut Toast from a “buy” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $16.00 in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Toast has a consensus rating of “Hold” and an average target price of $23.20.

Check Out Our Latest Stock Analysis on TOST

Toast Price Performance

TOST opened at $24.92 on Thursday. The business has a fifty day simple moving average of $21.55 and a 200 day simple moving average of $18.64. The company has a market capitalization of $10.89 billion, a PE ratio of -48.86 and a beta of 1.78. Toast has a 1 year low of $13.77 and a 1 year high of $27.00.

Toast (NYSE:TOSTGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company earned ($0.19) EPS. Toast’s revenue for the quarter was up 34.7% on a year-over-year basis. Equities analysts anticipate that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Elena Gomez sold 11,650 shares of Toast stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total value of $202,593.50. Following the completion of the transaction, the chief financial officer now directly owns 170,314 shares in the company, valued at $2,961,760.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel Brian R. Elworthy sold 1,722 shares of Toast stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total transaction of $29,945.58. Following the completion of the sale, the general counsel now owns 383,188 shares of the company’s stock, valued at $6,663,639.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 11,650 shares of Toast stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $17.39, for a total value of $202,593.50. Following the sale, the chief financial officer now directly owns 170,314 shares of the company’s stock, valued at approximately $2,961,760.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 359,444 shares of company stock worth $7,276,642. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several large investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its stake in Toast by 115.4% during the first quarter. Raymond James & Associates now owns 24,946 shares of the company’s stock worth $542,000 after purchasing an additional 13,364 shares during the last quarter. HighTower Advisors LLC lifted its stake in Toast by 78.2% during the first quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock worth $616,000 after purchasing an additional 12,446 shares during the last quarter. Citigroup Inc. bought a new stake in Toast during the first quarter worth about $438,000. Ergoteles LLC bought a new stake in Toast during the first quarter worth about $2,427,000. Finally, First Trust Advisors LP bought a new stake in Toast during the first quarter worth about $33,356,000. Institutional investors own 82.91% of the company’s stock.

About Toast

(Get Free Report)

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.

Read More

Analyst Recommendations for Toast (NYSE:TOST)

Receive News & Ratings for Toast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toast and related companies with MarketBeat.com's FREE daily email newsletter.