Toast (NYSE:TOST) PT Raised to $28.00

Toast (NYSE:TOST) had its target price increased by investment analysts at Robert W. Baird from $24.00 to $28.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 24.83% from the company’s current price.

TOST has been the subject of a number of other reports. Mizuho reiterated a “neutral” rating and set a $17.00 price objective on shares of Toast in a report on Wednesday, March 27th. UBS Group increased their price objective on Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Evercore ISI assumed coverage on Toast in a report on Monday, March 4th. They set an “outperform” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods initiated coverage on Toast in a report on Tuesday, April 9th. They set a “market perform” rating and a $25.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus target price of $24.32.

Toast Price Performance

Shares of Toast stock opened at $22.43 on Monday. Toast has a 1 year low of $13.77 and a 1 year high of $27.00. The business has a 50-day moving average of $22.89 and a two-hundred day moving average of $18.96. The company has a market capitalization of $9.80 billion, a P/E ratio of -43.98 and a beta of 1.79.

Toast (NYSE:TOST) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company earned ($0.19) earnings per share. The company’s revenue for the quarter was up 34.7% compared to the same quarter last year. On average, equities analysts anticipate that Toast will post -0.22 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 224,900 shares of Toast stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the completion of the sale, the general counsel now directly owns 160,340 shares of the company’s stock, valued at approximately $2,945,445.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the sale, the president now directly owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 224,900 shares of Toast stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total value of $4,131,413.00. Following the sale, the general counsel now directly owns 160,340 shares of the company’s stock, valued at $2,945,445.80. The disclosure for this sale can be found here. Insiders sold a total of 363,688 shares of company stock valued at $7,499,141 over the last three months. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC increased its stake in Toast by 1.0% during the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after acquiring an additional 436 shares during the period. Advisor Group Holdings Inc. increased its stake in Toast by 4.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 12,738 shares of the company’s stock worth $229,000 after acquiring an additional 530 shares during the period. Brown Advisory Inc. increased its stake in Toast by 2.6% during the 3rd quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock worth $503,000 after acquiring an additional 675 shares during the period. Raymond James & Associates increased its stake in Toast by 5.1% during the 4th quarter. Raymond James & Associates now owns 14,889 shares of the company’s stock worth $268,000 after acquiring an additional 725 shares during the period. Finally, Trinity Financial Advisors LLC increased its stake in Toast by 3.7% during the 3rd quarter. Trinity Financial Advisors LLC now owns 21,135 shares of the company’s stock worth $396,000 after acquiring an additional 747 shares during the period. 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.