Toast (NYSE:TOST) Price Target Raised to $45.00 at Royal Bank of Canada

Toast (NYSE:TOST) had its target price raised by Royal Bank of Canada from $40.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other equities analysts have also recently weighed in on TOST. BMO Capital Markets upped their price objective on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective on the stock. Wedbush raised their price target on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler increased their price objective on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods boosted their target price on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Thursday. One equities research 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.23.

Toast Stock Up 1.2 %

TOST opened at $40.45 on Thursday. The company has a fifty day moving average of $38.60 and a two-hundred day moving average of $33.35. Toast has a fifty-two week low of $20.49 and a fifty-two week high of $44.12.

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

Insider Activity at Toast

In other news, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Yuan sold 189,785 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now directly owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 339,564 shares of company stock worth $13,577,845. 13.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Toast

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

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.