Needham & Company LLC Increases Toast (NYSE:TOST) Price Target to $30.00

Toast (NYSE:TOST) had its target price boosted by research analysts at Needham & Company LLC from $26.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 11.86% from the company’s previous close.

Several other equities analysts also recently weighed in on TOST. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 target price on shares of Toast in a research report on Thursday, April 11th. Keefe, Bruyette & Woods began coverage on shares of Toast in a research note on Tuesday, April 9th. They set a “market perform” rating and a $25.00 target price on the stock. Evercore ISI started coverage on shares of Toast in a report on Monday, March 4th. They set an “outperform” rating and a $32.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, UBS Group increased their price objective on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.80.

Toast Stock Performance

Shares of TOST stock opened at $26.82 on Wednesday. The firm has a market cap of $12.10 billion, a P/E ratio of -52.59 and a beta of 1.77. The firm’s 50 day moving average price is $23.79 and its 200-day moving average price is $19.62. Toast has a one year low of $13.77 and a one year high of $27.57.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, hitting 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 company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. The firm’s revenue was up 31.3% compared to the same quarter last year. As a group, research analysts predict that Toast will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value 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 this hyperlink. In other Toast news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction that occurred 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 transaction, the executive now owns 22,956 shares of the company’s stock, valued at $579,409.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 2,272 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value 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. Over the last quarter, insiders have sold 193,010 shares of company stock valued at $4,711,760. 13.32% of the stock is owned by corporate insiders.

Institutional Trading of Toast

A number of large investors have recently bought and sold shares of the business. Sei Investments Co. increased its holdings in shares of Toast by 105.0% in the third quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock valued at $12,943,000 after purchasing an additional 353,903 shares during the period. Vanguard Group Inc. raised its position in Toast by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after buying an additional 3,494,579 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Toast by 101.5% in the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock worth $42,829,000 after acquiring an additional 1,181,409 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Toast by 1,542.9% in the fourth quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock valued at $1,047,000 after acquiring an additional 53,846 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Toast during the third quarter worth about $936,000. Institutional investors and hedge funds 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.