Royal Bank of Canada Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its target price raised by Royal Bank of Canada from $27.00 to $40.00 in a research report released on Friday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other analysts have also recently commented on TOST. JPMorgan Chase & Co. upped their price target on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley upped their price target on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price target on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday. DA Davidson upped their price target on Toast from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.30.

Toast Trading Up 1.3 %

Shares of NYSE:TOST opened at $37.96 on Friday. The stock has a market capitalization of $17.50 billion, a P/E ratio of -291.96 and a beta of 1.74. Toast has a 1-year low of $13.77 and a 1-year high of $38.40. The business has a 50-day moving average price of $28.45 and a two-hundred day moving average price of $26.11.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 1,917 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $59,580.36. Following the completion of the transaction, the chief financial officer now owns 159,615 shares of the company’s stock, valued at $4,960,834.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 1,917 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $59,580.36. Following the completion of the sale, the chief financial officer now directly owns 159,615 shares of the company’s stock, valued at approximately $4,960,834.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,375,651 shares of company stock valued at $38,150,212 in the last quarter. 13.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Large investors have recently made changes to their positions in the stock. Stephens Investment Management Group LLC boosted its holdings in shares of Toast by 13.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock valued at $53,358,000 after buying an additional 218,959 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Toast in the 1st quarter valued at $5,078,000. QRG Capital Management Inc. raised its stake in Toast by 39.7% in the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock valued at $2,190,000 after acquiring an additional 24,164 shares during the period. Epoch Investment Partners Inc. bought a new stake in Toast in the 1st quarter valued at $633,000. Finally, Duality Advisers LP bought a new stake in Toast in the 1st quarter valued at $1,172,000. 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.