Toast (NYSE:TOST) Price Target Raised to $45.00 at Royal Bank of Canada

Toast (NYSE:TOST) had its target price lifted by Royal Bank of Canada from $40.00 to $45.00 in a research report report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research analysts have also commented on TOST. Deutsche Bank Aktiengesellschaft boosted their price objective on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group decreased their price target on Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Wednesday, November 20th. BMO Capital Markets lifted their price target on shares of Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Canaccord Genuity Group upped their target price on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.23.

Toast Stock Up 1.2 %

TOST opened at $40.45 on Thursday. The company has a 50 day moving average of $38.60 and a 200 day moving average of $33.35. Toast has a 12 month low of $20.49 and a 12 month high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. As a group, equities analysts forecast that Toast will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In other Toast news, Director David Yuan sold 189,785 shares of Toast stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now owns 198,829 shares in the company, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now owns 182,451 shares in the company, valued at $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings 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 acquiring an additional 4,147,430 shares in the last quarter. Capital International Investors increased its holdings in shares of Toast by 1.9% in the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock valued at $1,529,657,000 after purchasing an additional 785,641 shares during the period. FMR LLC raised its stake in shares of Toast by 22.1% in the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the last quarter. ValueAct Holdings L.P. acquired a new stake in shares of Toast during the third quarter worth about $438,301,000. Finally, State Street Corp boosted its position in Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after buying an additional 206,789 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.