Toast (NYSE:TOST) Price Target Raised to $48.00 at Canaccord Genuity Group

Toast (NYSE:TOST) had its target price increased by equities researchers at Canaccord Genuity Group from $43.00 to $48.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 25.10% from the company’s current price.

A number of other research firms have also commented on TOST. Deutsche Bank Aktiengesellschaft raised their price target on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Morgan Stanley increased their price target on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their target price on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, UBS Group upped their price target on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.00.

Toast Stock Down 4.0 %

TOST traded down $1.61 during trading hours on Thursday, hitting $38.37. The stock had a trading volume of 6,234,783 shares, compared to its average volume of 5,731,473. Toast has a 1 year low of $20.49 and a 1 year high of $44.12. The company’s fifty day simple moving average is $38.59 and its 200 day simple moving average is $33.30. The stock has a market cap of $18.07 billion, a PE ratio of -296.66, a price-to-earnings-growth ratio of 2.27 and a beta of 1.98.

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

Insider Transactions at Toast

In related news, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the sale, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,564 shares of company stock worth $13,577,845. Company insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently bought and sold shares of TOST. Blue Trust Inc. raised its holdings in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after acquiring an additional 378 shares in the last quarter. Piscataqua Savings Bank purchased a new position in Toast during the 4th quarter valued at $26,000. Stonebridge Financial Group LLC bought a new position in Toast in the 4th quarter worth $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast in the 4th quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Toast during the 4th quarter valued at about $40,000. 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.