Toast (NYSE:TOST) Price Target Raised to $54.00

Toast (NYSE:TOST) had its price objective boosted by Jefferies Financial Group from $50.00 to $54.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on TOST. The Goldman Sachs Group reduced their price target on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. BMO Capital Markets boosted their price target on Toast from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Wolfe Research upgraded Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research report on Thursday. They set a “buy” rating and a $54.00 price target for the company. Finally, Truist Financial upped their price objective on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Toast Price Performance

NYSE:TOST opened at $46.56 on Friday. Toast has a 12-month low of $22.10 and a 12-month high of $47.50. The firm has a market capitalization of $23.19 billion, a P/E ratio of 202.43 and a beta of 2.00. The business has a 50 day simple moving average of $43.43 and a 200 day simple moving average of $38.92.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 34,170 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the completion of the sale, the chief financial officer directly owned 139,357 shares in the company, valued at approximately $5,931,033.92. This trade represents a 19.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 5,681 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $241,953.79. Following the sale, the general counsel owned 221,767 shares of the company’s stock, valued at $9,445,056.53. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 466,131 shares of company stock worth $20,048,851. 13.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Toast

Institutional investors have recently bought and sold shares of the business. Wayfinding Financial LLC acquired a new position in Toast in the 1st quarter worth about $34,000. Piscataqua Savings Bank increased its position in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock worth $36,000 after purchasing an additional 400 shares during the last quarter. West Branch Capital LLC increased its position in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after purchasing an additional 284 shares during the last quarter. Finally, Signaturefd LLC increased its position in Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock worth $49,000 after purchasing an additional 1,022 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.