Toast (NYSE:TOST) Price Target Raised to $40.00 at Robert W. Baird

Toast (NYSE:TOST) had its target price raised by Robert W. Baird from $38.00 to $40.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Compass Point assumed coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. JPMorgan Chase & Co. raised their target price on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Wedbush boosted their price target on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Piper Sandler raised their price objective on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, Morgan Stanley upped their target price on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.23.

Toast Stock Performance

Shares of TOST stock opened at $40.45 on Thursday. The stock’s fifty day moving average price is $38.60 and its 200 day moving average price is $33.35. Toast has a 1-year low of $20.49 and a 1-year high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Sell-side analysts expect that Toast will post 0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 339,564 shares of company stock worth $13,577,845. Company insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Large investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. boosted its stake in Toast by 93.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 720 shares during the last quarter. Private Advisor Group LLC grew its stake in Toast by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after acquiring an additional 441 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Toast by 2,731.0% in the 3rd quarter. International Assets Investment Management LLC now owns 95,971 shares of the company’s stock valued at $2,717,000 after acquiring an additional 92,581 shares during the last quarter. Taylor Frigon Capital Management LLC purchased a new position in Toast in the 3rd quarter worth approximately $1,277,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after purchasing an additional 3,701,893 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.