Toast (NYSE:TOST) Stock Price Expected to Rise, DA Davidson Analyst Says

Toast (NYSE:TOST) had its price objective upped by stock analysts at DA Davidson from $35.00 to $44.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 10.22% from the stock’s previous close.

A number of other equities analysts have also commented on TOST. Wedbush boosted their price objective on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Piper Sandler upped their target price on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Bank of America upped their target price on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. One investment 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 MarketBeat.com, Toast presently has a consensus rating of “Hold” and an average price target of $32.75.

Toast Stock Performance

TOST stock opened at $39.92 on Tuesday. The stock has a market capitalization of $18.80 billion, a P/E ratio of -307.08 and a beta of 1.74. Toast has a one year low of $13.77 and a one year high of $40.53. The company has a 50 day moving average price of $29.08 and a two-hundred day moving average price of $26.32.

Insider Activity

In other news, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Aman Narang sold 10,106 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,575,651 shares of company stock worth $45,472,212 over the last three months. Corporate insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of large investors have recently added to or reduced their stakes in the business. Capital International Investors boosted its holdings in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after buying an additional 3,574,397 shares in the last quarter. FMR LLC boosted its holdings in Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after buying an additional 8,205,053 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after buying an additional 3,445,788 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Toast by 9.1% during the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after buying an additional 833,390 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in Toast during the first quarter worth approximately $179,111,000. 82.91% of the stock is currently owned by institutional investors.

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.