Robert W. Baird Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price target upped by research analysts at Robert W. Baird from $30.00 to $33.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 11.43% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Toast in a research note on Friday, May 8th. DA Davidson lowered their target price on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Piper Sandler started coverage on Toast in a research report on Wednesday, June 10th. They issued an “overweight” rating and a $32.00 target price on the stock. Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Truist Financial lowered their price target on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.41.

Toast Stock Up 0.5%

TOST stock opened at $29.62 on Wednesday. The company has a 50 day moving average of $25.69 and a two-hundred day moving average of $28.58. The company has a market cap of $15.28 billion, a price-to-earnings ratio of 45.56 and a beta of 1.74. Toast has a 12-month low of $22.26 and a 12-month high of $49.66.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 6,647 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $191,765.95. Following the completion of the transaction, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,018,519.10. The trade was a 8.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,146 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $263,862.10. Following the sale, the president owned 931,449 shares of the company’s stock, valued at approximately $26,872,303.65. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 156,115 shares of company stock valued at $4,184,238. 10.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Alliancebernstein L.P. raised its position in Toast by 2,432.8% in the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after purchasing an additional 7,891,383 shares in the last quarter. Norges Bank bought a new stake in shares of Toast in the 4th quarter valued at approximately $202,808,000. ValueAct Holdings L.P. raised its holdings in shares of Toast by 135.9% in the 4th quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock worth $284,622,000 after buying an additional 4,618,077 shares in the last quarter. XN LP lifted its position in shares of Toast by 50.8% during the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after buying an additional 3,029,856 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Toast by 36.0% in the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock valued at $211,478,000 after buying an additional 2,111,009 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.