Toast (NYSE:TOST) PT Raised to $27.00 at Royal Bank of Canada

Toast (NYSE:TOST) had its target price raised by stock analysts at Royal Bank of Canada from $23.00 to $27.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 0.78% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. Mizuho reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Toast in a research note on Wednesday, March 27th. The Goldman Sachs Group increased their price objective on shares of Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. BNP Paribas upgraded shares of 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. Evercore ISI started coverage on Toast in a report on Monday, March 4th. They set an “outperform” rating and a $32.00 price target for the company. Finally, Piper Sandler boosted their price objective on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.35.

Toast Stock Up 12.9 %

Shares of TOST traded up $3.06 during mid-day trading on Wednesday, hitting $26.79. 19,629,543 shares of the company’s stock were exchanged, compared to its average volume of 8,132,714. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of -52.90 and a beta of 1.77. Toast has a 52 week low of $13.77 and a 52 week high of $27.31. The stock’s 50-day simple moving average is $23.63 and its 200-day simple moving average is $19.52.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. Analysts forecast that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Activity at Toast

In related news, insider James Michael Matlock sold 1,205 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $28,197.00. Following the sale, the insider now directly owns 40,954 shares in the company, valued at approximately $958,323.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider James Michael Matlock sold 1,205 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $28,197.00. Following the completion of the transaction, the insider now directly owns 40,954 shares in the company, valued at approximately $958,323.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total value of $1,145,000.00. Following 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 three months, insiders have sold 180,510 shares of company stock worth $4,381,885. Company insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Motley Fool Wealth Management LLC purchased a new position in Toast during the 1st quarter valued at $11,762,000. Avantax Advisory Services Inc. purchased a new position in shares of Toast during the first quarter valued at about $355,000. Qsemble Capital Management LP bought a new position in Toast in the first quarter worth about $1,763,000. Sei Investments Co. lifted its holdings in Toast by 3.7% in the first quarter. Sei Investments Co. now owns 642,672 shares of the company’s stock worth $16,015,000 after buying an additional 22,991 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Toast during the 1st quarter valued at approximately $5,078,000. Institutional investors own 82.91% of the company’s stock.

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.