Royal Bank of Canada Raises Toast (NYSE:TOST) Price Target to $40.00

Toast (NYSE:TOST) had its target price boosted by Royal Bank of Canada from $27.00 to $40.00 in a report released on Friday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other analysts also recently issued reports on TOST. Robert W. Baird upped their price target on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley increased their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. DA Davidson increased their target price on Toast from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Wedbush raised their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Stephens raised their price target on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.80.

Toast Stock Up 14.7 %

TOST stock traded up $4.81 during midday trading on Friday, hitting $37.48. The company’s stock had a trading volume of 28,795,314 shares, compared to its average volume of 7,216,790. The firm has a market capitalization of $17.28 billion, a P/E ratio of -128.96 and a beta of 1.74. The firm has a 50-day simple moving average of $28.19 and a 200-day simple moving average of $25.97. Toast has a 52-week low of $13.77 and a 52-week high of $38.40.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. Toast’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) earnings per share. On average, sell-side analysts expect that Toast will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 1,367 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the sale, the executive now owns 39,834 shares in the company, valued at $1,238,040.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Jonathan Vassil sold 1,367 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the sale, the executive now directly owns 39,834 shares in the company, valued at approximately $1,238,040.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,375,651 shares of company stock valued at $38,150,212 in the last 90 days. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors boosted 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 buying an additional 3,445,788 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Toast by 9.1% in the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after buying an additional 833,390 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Toast in the first quarter worth $179,111,000. Finally, Meritage Group LP raised its holdings in shares of Toast by 37.3% in the first quarter. Meritage Group LP now owns 5,284,811 shares of the company’s stock worth $131,697,000 after buying an additional 1,436,494 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

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.