Toast (NYSE:TOST) Price Target Raised to $33.00 at Morgan Stanley

Toast (NYSE:TOST) had its price target boosted by Morgan Stanley from $30.00 to $33.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently weighed in on TOST. The Goldman Sachs Group upped their target price on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stephens raised their target price on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Finally, Robert W. Baird lifted their price target on Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.94.

Toast Price Performance

Toast stock opened at $29.47 on Tuesday. The stock’s 50 day moving average price is $26.75 and its 200 day moving average price is $25.37. The company has a market cap of $13.59 billion, a PE ratio of -101.62 and a beta of 1.76. Toast has a 1-year low of $13.77 and a 1-year high of $30.70.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.19) earnings per share. On average, equities research analysts anticipate that Toast will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 1,127 shares of Toast stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $27,048.00. Following the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at $68,393,016. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Elena Gomez sold 2,162 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $51,888.00. Following the sale, the chief financial officer now owns 183,931 shares of the company’s stock, valued at $4,414,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00. Following the completion of the sale, the president now directly owns 2,849,709 shares in the company, valued at approximately $68,393,016. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,387,269 shares of company stock worth $38,394,140 over the last three months. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently bought and sold shares of TOST. West Branch Capital LLC acquired a new position in shares of Toast during the second quarter valued at about $26,000. LRI Investments LLC purchased a new position in Toast in the first quarter valued at about $27,000. Toth Financial Advisory Corp purchased a new stake in shares of Toast during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toast in the 2nd quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Toast during the 2nd quarter worth $34,000. Institutional investors and hedge funds 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.