Toast (NYSE:TOST) Price Target Raised to $50.00 at Morgan Stanley

Toast (NYSE:TOST) had its target price hoisted by Morgan Stanley from $46.00 to $50.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Compass Point initiated coverage on shares of Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. JPMorgan Chase & Co. lifted 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. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Wednesday, November 20th. Piper Sandler lifted their target price on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lifted their target price on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Toast has a consensus rating of “Hold” and an average target price of $40.23.

Toast Stock Up 1.2 %

TOST opened at $40.45 on Thursday. The firm’s fifty day moving average price is $38.60 and its two-hundred 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 posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm 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 predict that Toast will post 0.38 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction dated 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 transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 1,006 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $39,867.78. Following the transaction, the executive now directly owns 48,488 shares of the company’s stock, valued at $1,921,579.44. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 339,564 shares of company stock worth $13,577,845 over the last ninety days. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Makena Capital Management LLC grew its holdings in shares of Toast by 7.6% during the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after purchasing an additional 19,371 shares in the last quarter. KBC Group NV boosted its stake in Toast by 66.5% in the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after buying an additional 17,106 shares in the last quarter. Geode Capital Management LLC boosted its stake in Toast by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after buying an additional 155,212 shares in the last quarter. MML Investors Services LLC boosted its stake in Toast by 40.6% in the third quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after buying an additional 65,957 shares in the last quarter. Finally, Qsemble Capital Management LP boosted its stake in Toast by 52.1% in the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after buying an additional 23,231 shares in the last quarter. Hedge funds and other 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.