Robert W. Baird Increases Toast (NYSE:TOST) Price Target to $28.00

Toast (NYSE:TOST) had its price target hoisted by Robert W. Baird from $24.00 to $28.00 in a research note issued to investors on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on TOST. Royal Bank of Canada reissued a sector perform rating and set a $23.00 price objective on shares of Toast in a research report on Thursday, April 11th. Redburn Atlantic raised shares of Toast from a neutral rating to a buy rating and set a $28.00 price objective for the company in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods began coverage on shares of Toast in a research report on Tuesday, April 9th. They set a market perform rating and a $25.00 price objective for the company. BNP Paribas raised shares of Toast from a neutral rating to an outperform rating and set a $30.00 price objective for the company in a research report on Thursday, March 7th. Finally, Mizuho reissued a neutral rating and set a $17.00 price objective on shares of Toast in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $24.32.

Toast Stock Performance

TOST opened at $22.18 on Monday. The firm’s fifty day moving average is $23.03 and its two-hundred day moving average is $19.01. The firm has a market cap of $9.69 billion, a PE ratio of -43.49 and a beta of 1.79. Toast has a twelve month low of $13.77 and a twelve month high of $27.00.

Toast (NYSE:TOST) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted ($0.19) earnings per share. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. Equities analysts forecast that Toast will post -0.22 EPS for the current fiscal year.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the sale, the executive now owns 25,422 shares in the company, valued at approximately $582,163.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, 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 transaction, the president now directly owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the transaction, the executive now owns 25,422 shares of the company’s stock, valued at $582,163.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 414,486 shares of company stock worth $8,662,487. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baystate Wealth Management LLC bought a new stake in shares of Toast during the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC bought a new stake in Toast during the 3rd quarter worth approximately $30,000. Principal Securities Inc. bought a new stake in Toast during the 4th quarter worth approximately $30,000. Cape Investment Advisory Inc. bought a new stake in Toast during the 4th quarter worth approximately $31,000. Finally, PNC Financial Services Group Inc. grew its holdings in Toast by 277.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock worth $31,000 after acquiring an additional 1,257 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.