JPMorgan Chase & Co. Boosts Toast (NYSE:TOST) Price Target to $28.00

Toast (NYSE:TOST) had its target price boosted by JPMorgan Chase & Co. from $25.00 to $28.00 in a research note issued to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

TOST has been the topic of several other research reports. Morgan Stanley boosted their target price on Toast from $29.00 to $30.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Royal Bank of Canada restated a sector perform rating and issued a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. Canaccord Genuity Group lifted their target price on Toast from $22.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Robert W. Baird cut shares of Toast from an outperform rating to a neutral rating and set a $28.00 price target on the stock. in a research report on Tuesday, May 21st. Finally, Wells Fargo & Company raised their price objective on shares of Toast from $17.00 to $19.00 and gave the company an underweight rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $28.22.

Toast Stock Performance

NYSE:TOST opened at $23.56 on Tuesday. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of -47.12 and a beta of 1.76. Toast has a 1 year low of $13.77 and a 1 year high of $27.90. The business has a fifty day moving average of $25.07 and a 200-day moving average of $23.98.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.19) earnings per share. On average, equities research analysts predict that Toast will post -0.1 EPS for the current year.

Insider Activity

In related news, Director Christopher P. Comparato sold 80,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $24.23, for a total value of $1,938,400.00. Following the completion of the sale, the director now directly owns 97,762 shares of the company’s stock, valued at approximately $2,368,773.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $25.55, for a total transaction of $2,555,000.00. Following the transaction, the executive now directly owns 31,919 shares in the company, valued at approximately $815,530.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christopher P. Comparato sold 80,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $24.23, for a total value of $1,938,400.00. Following the sale, the director now owns 97,762 shares of the company’s stock, valued at $2,368,773.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 418,352 shares of company stock worth $10,526,982. 13.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Toast by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after buying an additional 1,598,248 shares in the last quarter. Capital International Investors lifted its stake in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after acquiring an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after acquiring an additional 3,445,788 shares in the last quarter. Abdiel Capital Advisors LP increased its stake in shares of Toast by 0.3% during the 4th quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock worth $199,280,000 after purchasing an additional 37,091 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Toast by 9.1% during the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after purchasing an additional 833,390 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

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.