Toast (NYSE:TOST) Price Target Raised to $28.00

Toast (NYSE:TOST) had its target price raised by Robert W. Baird from $24.00 to $28.00 in a report released on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Toast in a report on Tuesday, April 9th. They set a market perform rating and a $25.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of Toast from $15.00 to $17.00 and gave the stock an underweight rating in a research report on Friday, April 12th. Redburn Atlantic raised shares of Toast from a neutral rating to a buy rating and set a $28.00 price objective on the stock in a research report on Wednesday, February 7th. UBS Group lifted their price objective on shares of Toast from $22.00 to $31.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group raised shares of Toast from a neutral rating to a buy rating and lifted their price objective for the stock 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, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $24.32.

Toast Price Performance

Shares of NYSE TOST opened at $22.76 on Monday. The stock has a market capitalization of $9.95 billion, a P/E ratio of -44.63 and a beta of 1.79. The company has a 50-day moving average price of $22.96 and a 200-day moving average price of $18.99. Toast has a 1 year low of $13.77 and a 1 year high of $27.00.

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

Insider Activity

In related news, President Stephen Fredette sold 2,272 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the sale, the president now 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 Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 2,272 shares of the business’s 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 transaction, the president now directly owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold a total of 414,486 shares of company stock valued at $8,662,487 over the last quarter. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC purchased a new position in Toast in the 1st quarter worth approximately $37,000. Baystate Wealth Management LLC purchased a new position in Toast in the 3rd quarter worth approximately $29,000. Principal Securities Inc. purchased a new stake in shares of Toast in the 4th quarter valued at $30,000. BluePath Capital Management LLC purchased a new stake in shares of Toast in the 3rd quarter valued at $30,000. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of Toast in the 4th quarter valued at $31,000. Hedge funds and other 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.