Toast (NYSE:TOST) Reaches New 12-Month High Following Analyst Upgrade

Toast, Inc. (NYSE:TOST)’s stock price reached a new 52-week high during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $20.00 to $25.00. Piper Sandler currently has a neutral rating on the stock. Toast traded as high as $27.57 and last traded at $26.58, with a volume of 1499676 shares traded. The stock had previously closed at $26.82.

Several other equities analysts have also recently commented on the stock. BNP Paribas raised shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Thursday, March 7th. Keefe, Bruyette & Woods boosted their price target on shares of Toast from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday. UBS Group raised their price objective on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Robert W. Baird lifted their price objective on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.80.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction on Tuesday, April 2nd. The stock was 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 $66,356,760.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the executive now directly owns 22,956 shares in the company, valued at $579,409.44. The disclosure for this sale can be found here. Insiders sold 193,010 shares of company stock valued at $4,711,760 over the last three months. 13.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC boosted its stake in Toast by 1.0% during the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after purchasing an additional 436 shares during the period. Wellington Shields & Co. LLC increased its position in Toast by 3.1% during the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after acquiring an additional 500 shares during the period. Brown Advisory Inc. raised its stake in Toast by 2.6% during the 3rd 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. Envestnet Portfolio Solutions Inc. boosted its holdings in Toast by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after purchasing an additional 774 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in Toast by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock worth $2,914,000 after purchasing an additional 790 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Stock Performance

The firm’s fifty day moving average price is $23.79 and its 200-day moving average price is $19.62. The company has a market cap of $12.10 billion, a P/E ratio of -52.59 and a beta of 1.77.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. As a group, research analysts forecast that Toast, Inc. will post -0.22 earnings per share for the current fiscal year.

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.