Toast (NYSE:TOST) Price Target Raised to $38.00 at Robert W. Baird

Toast (NYSE:TOST) had its target price upped by analysts at Robert W. Baird from $30.00 to $38.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 16.53% from the stock’s current price.

Several other research analysts also recently weighed in on TOST. JPMorgan Chase & Co. upped their target price on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Stephens upped their target price on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. 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 note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.70.

Toast Trading Up 1.5 %

Shares of TOST stock opened at $32.61 on Friday. The stock has a 50 day moving average of $27.94 and a 200 day moving average of $25.86. The stock has a market cap of $15.03 billion, a P/E ratio of -112.44 and a beta of 1.74. Toast has a twelve month low of $13.77 and a twelve month high of $33.01.

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

Insider Buying and Selling at Toast

In other Toast news, Director Christopher P. Comparato sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total value of $2,435,000.00. Following the completion of the sale, the director now directly owns 120,107 shares in the company, valued at $2,924,605.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Christopher P. Comparato sold 100,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the completion of the transaction, the director now directly owns 120,107 shares in the company, valued at approximately $2,924,605.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,375,651 shares of company stock worth $38,150,212 in the last three months. 13.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

Hedge funds have recently modified their holdings of the business. Whale Rock Capital Management LLC purchased a new position in Toast during the 1st quarter valued at about $179,111,000. Assenagon Asset Management S.A. boosted its holdings in 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 valued at $108,427,000 after acquiring an additional 3,701,893 shares during the period. Capital International Investors boosted its holdings in Toast by 12.2% during the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after acquiring an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Toast by 21.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after acquiring an additional 3,445,788 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Toast by 175.8% during the 2nd quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after acquiring an additional 1,604,716 shares during the period. 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.