Toast (NYSE:TOST) Price Target Raised to $28.00

Toast (NYSE:TOST) had its target price lifted by Robert W. Baird from $24.00 to $28.00 in a report released on Monday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

TOST has been the topic of a number of other research reports. Royal Bank of Canada restated a sector perform rating and issued a $23.00 target price on shares of Toast in a research report on Thursday, April 11th. The Goldman Sachs Group upgraded Toast from a neutral rating to a buy rating and lifted their target price for the company from $16.00 to $24.00 in a research report on Wednesday, January 10th. Evercore ISI started coverage on Toast in a research report on Monday, March 4th. They issued an outperform rating and a $32.00 target price on the stock. Piper Sandler lifted their target price on Toast from $18.00 to $20.00 and gave the company a neutral rating in a research report on Friday, February 16th. Finally, BNP Paribas upgraded Toast from a neutral rating to an outperform rating and set a $30.00 target price on the stock in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $24.32.

Toast Stock Performance

Shares of Toast stock opened at $22.51 on Monday. Toast has a one year low of $13.77 and a one year high of $27.00. The company has a market cap of $9.83 billion, a price-to-earnings ratio of -44.13 and a beta of 1.79. The business’s 50 day moving average price is $22.81 and its 200 day moving average price is $18.93.

Toast (NYSE:TOST) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business posted ($0.19) earnings per share. The firm’s revenue was up 34.7% compared to the same quarter last year. On average, analysts predict that Toast will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Aman Narang sold 2,471 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elena Gomez sold 15,063 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $352,474.20. Following the completion of the transaction, the chief financial officer now owns 187,609 shares in the company, valued at approximately $4,390,050.60. The disclosure for this sale can be found here. Insiders have sold a total of 363,688 shares of company stock worth $7,499,141 in the last quarter. 13.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TOST. Baystate Wealth Management LLC acquired a new stake in shares of Toast in the 3rd quarter valued at about $29,000. BluePath Capital Management LLC acquired a new stake in shares of Toast in the 3rd quarter valued at about $30,000. Principal Securities Inc. acquired a new stake in shares of Toast in the 4th quarter valued at about $30,000. Cape Investment Advisory Inc. acquired a new stake in shares of Toast in the 4th quarter valued at about $31,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Toast by 277.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after purchasing an additional 1,257 shares during the period. Hedge funds and other 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.