UBS Group Increases Toast (NYSE:TOST) Price Target to $31.00

Toast (NYSE:TOST) had its target price lifted by research analysts at UBS Group from $22.00 to $31.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 26.02% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Redburn Atlantic upgraded Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, February 7th. Piper Sandler lifted their price target on shares of Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Bank of America downgraded shares of Toast from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $16.00 in a research report on Wednesday, December 6th. Evercore ISI began coverage on shares of Toast in a research report on Monday, March 4th. They set an “outperform” rating and a $32.00 price target for the company. Finally, The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and lifted their price target for the company from $16.00 to $24.00 in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Toast presently has an average rating of “Hold” and an average target price of $23.20.

Toast Trading Up 1.1 %

Shares of NYSE:TOST traded up $0.27 on Thursday, reaching $24.60. The company had a trading volume of 1,066,997 shares, compared to its average volume of 8,793,109. The firm has a market capitalization of $10.75 billion, a PE ratio of -48.47 and a beta of 1.78. Toast has a 52-week low of $13.77 and a 52-week high of $27.00. The firm’s 50 day simple moving average is $21.25 and its 200-day simple moving average is $18.57.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. As a group, equities research analysts predict that Toast will post -0.22 earnings per share for the current year.

Insider Activity at Toast

In related news, CEO Aman Narang sold 2,871 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $17.39, for a total transaction of $49,926.69. Following the transaction, the chief executive officer now owns 1,156,538 shares in the company, valued at $20,112,195.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Toast news, CEO Aman Narang sold 2,871 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $17.39, for a total value of $49,926.69. Following the transaction, the chief executive officer now directly owns 1,156,538 shares in the company, valued at $20,112,195.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Michael Matlock sold 5,804 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $18.72, for a total transaction of $108,650.88. Following the completion of the transaction, the insider now owns 43,884 shares in the company, valued at $821,508.48. The disclosure for this sale can be found here. Insiders have sold a total of 359,444 shares of company stock worth $7,276,642 over the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TOST. Altimeter Capital Management LP grew its position in shares of Toast by 3,508.4% in the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock worth $3,933,007,000 after buying an additional 17,541,796 shares during the last quarter. Morgan Stanley grew its position in Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after purchasing an additional 7,191,595 shares during the last quarter. Blue Owl Capital Holdings LP grew its position in Toast by 1,726.0% during the 4th quarter. Blue Owl Capital Holdings LP now owns 5,890,274 shares of the company’s stock worth $107,556,000 after purchasing an additional 5,567,696 shares during the last quarter. Vanguard Group Inc. lifted its stake in Toast by 23.6% during the 3rd quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock valued at $458,348,000 after acquiring an additional 5,232,858 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new position in shares of Toast in the 2nd quarter valued at $111,554,000. Institutional investors own 82.91% of the company’s stock.

About Toast

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.