Toast (NYSE:TOST) Price Target Increased to $26.00 by Analysts at Keefe, Bruyette & Woods

Toast (NYSE:TOST) had its target price hoisted by analysts at Keefe, Bruyette & Woods from $25.00 to $26.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential downside of 0.46% from the company’s current price.

Other research analysts have also issued reports about the company. Piper Sandler lifted their target price on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Robert W. Baird boosted their price objective on Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 target price on shares of Toast in a report on Thursday, April 11th. BNP Paribas raised Toast from a “neutral” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Thursday, March 7th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Toast in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.89.

Toast Stock Performance

Shares of TOST traded up $2.39 during midday trading on Wednesday, hitting $26.12. 6,321,997 shares of the stock were exchanged, compared to its average volume of 7,979,440. The firm has a market cap of $11.79 billion, a P/E ratio of -50.61 and a beta of 1.77. Toast has a 52-week low of $13.77 and a 52-week high of $27.00. The stock has a fifty day simple moving average of $23.63 and a 200 day simple moving average of $19.52.

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, hitting analysts’ consensus estimates of ($0.15). Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, equities research analysts forecast that Toast will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was 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 $66,356,760.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total value of $2,524,000.00. Following the transaction, the executive now owns 22,956 shares in the company, valued at $579,409.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the sale, the president now directly owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,510 shares of company stock valued at $4,381,885. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. Commonwealth Equity Services LLC lifted its stake in shares of Toast by 53.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 123,211 shares of the company’s stock valued at $2,308,000 after purchasing an additional 43,101 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Toast by 147.9% during the 3rd quarter. Raymond James & Associates now owns 173,263 shares of the company’s stock valued at $3,245,000 after acquiring an additional 103,381 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Toast by 26.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,655 shares of the company’s stock valued at $406,000 after acquiring an additional 4,571 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Toast by 2.6% in the 3rd quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock worth $503,000 after purchasing an additional 675 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Toast by 12.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,891,780 shares of the company’s stock valued at $72,893,000 after purchasing an additional 418,319 shares during the last quarter. Institutional investors 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.