Keefe, Bruyette & Woods Increases Toast (NYSE:TOST) Price Target to $26.00

Toast (NYSE:TOST) had its price objective increased by research analysts at Keefe, Bruyette & Woods from $25.00 to $26.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential downside of 3.06% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. BNP Paribas upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Thursday, March 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $23.00 target price on shares of Toast in a research note on Thursday, April 11th. UBS Group raised their price target on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Wells Fargo & Company upped their price objective on Toast from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Finally, Evercore ISI initiated coverage on Toast in a research report on Monday, March 4th. They set an “outperform” rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.80.

Toast Price Performance

Shares of TOST stock opened at $26.82 on Wednesday. The firm has a 50 day moving average of $23.79 and a two-hundred day moving average of $19.62. The stock has a market capitalization of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77. Toast has a 52 week low of $13.77 and a 52 week high of $27.57.

Toast (NYSE:TOST) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted ($0.16) earnings per share. Toast’s revenue was up 31.3% compared to the same quarter last year. Analysts expect that Toast will post -0.22 EPS for the current fiscal year.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the sale, the executive now directly owns 22,956 shares of the company’s stock, valued at $579,409.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at $579,409.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the sale, the president now owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold 193,010 shares of company stock worth $4,711,760 in the last quarter. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its position in shares of Toast by 53.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 123,211 shares of the company’s stock valued at $2,308,000 after acquiring an additional 43,101 shares during the period. Raymond James & Associates raised its holdings in Toast by 147.9% during the third quarter. Raymond James & Associates now owns 173,263 shares of the company’s stock worth $3,245,000 after purchasing an additional 103,381 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Toast by 26.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,655 shares of the company’s stock worth $406,000 after purchasing an additional 4,571 shares in the last quarter. Brown Advisory Inc. grew its holdings in Toast by 2.6% in the third quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock valued at $503,000 after purchasing an additional 675 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Toast by 12.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,891,780 shares of the company’s stock valued at $72,893,000 after buying an additional 418,319 shares in the last quarter. 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.