Royal Bank of Canada Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its target price hoisted by investment analysts at Royal Bank of Canada from $40.00 to $45.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 17.20% from the stock’s previous close.

Several other brokerages have also recently commented on TOST. BMO Capital Markets raised their price target on shares of Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods increased their price objective on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Morgan Stanley upped their price objective on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus target price of $40.23.

Toast Trading Down 4.0 %

TOST traded down $1.59 on Thursday, reaching $38.40. The stock had a trading volume of 7,503,625 shares, compared to its average volume of 5,776,683. The business’s 50-day moving average price is $38.59 and its two-hundred day moving average price is $33.30. Toast has a 12-month low of $20.49 and a 12-month high of $44.12. The company has a market cap of $18.08 billion, a P/E ratio of -293.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.98.

Toast (NYSE:TOST) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. As a group, analysts predict that Toast will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, CRO Jonathan Vassil sold 1,006 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $39,867.78. Following the completion of the sale, the executive now directly owns 48,488 shares in the company, valued at $1,921,579.44. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 339,564 shares of company stock valued at $13,577,845 in the last 90 days. 13.32% of the stock is currently owned by insiders.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. ValueAct Holdings L.P. purchased a new stake in shares of Toast during the third quarter valued at approximately $438,301,000. FMR LLC boosted its position in Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Toast in the 4th quarter valued at approximately $282,010,000. Norges Bank bought a new stake in shares of Toast during the 4th quarter valued at $205,888,000. Finally, Vanguard Group Inc. increased its position in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the period. 82.91% of the stock is 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.