Toast (NYSE:TOST) Given New $46.00 Price Target at Morgan Stanley

Toast (NYSE:TOST - Get Free Report) had its price objective decreased by equities research analysts at Morgan Stanley from $50.00 to $46.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 38.89% from the company's current price.

A number of other equities research analysts also recently issued reports on TOST. JPMorgan Chase & Co. upped their price objective on shares of Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. The Goldman Sachs Group decreased their price target on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. BNP Paribas set a $37.00 target price on shares of Toast and gave the stock a "neutral" rating in a report on Wednesday, February 19th. BMO Capital Markets upped their target price on Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company raised shares of Toast from an "underweight" rating to an "overweight" rating and raised their target price for the company from $30.00 to $39.00 in a research note on Thursday, April 10th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Toast presently has a consensus rating of "Hold" and an average price target of $40.09.

Toast Trading Down 3.4 %

TOST stock traded down $1.17 during mid-day trading on Wednesday, reaching $33.12. The company's stock had a trading volume of 6,002,176 shares, compared to its average volume of 6,833,079. The company has a market cap of $16.36 billion, a price-to-earnings ratio of -3,308.69, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast has a 12 month low of $21.32 and a 12 month high of $44.12. The business's 50 day moving average price is $35.43 and its 200 day moving average price is $36.20.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data 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). Toast had a net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. As a group, equities analysts expect that Toast will post 0.39 EPS for the current fiscal year.

Insider Activity at Toast

In other news, President Stephen Fredette sold 70,340 shares of Toast stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now directly owns 1,574,316 shares of the company's stock, valued at $53,322,082.92. The trade was a 4.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company's stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,770 shares of company stock valued at $11,803,911 over the last ninety days. Insiders own 13.32% of the company's stock.

Hedge Funds Weigh In On Toast

Hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Toast by 38.0% during the 3rd quarter. Barclays PLC now owns 309,426 shares of the company's stock valued at $8,758,000 after purchasing an additional 85,171 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Toast during the 3rd quarter worth approximately $327,000. Wilmington Savings Fund Society FSB bought a new position in shares of Toast during the 3rd quarter valued at approximately $59,000. Tidal Investments LLC lifted its position in Toast by 5.4% during the third quarter. Tidal Investments LLC now owns 14,310 shares of the company's stock valued at $405,000 after purchasing an additional 734 shares during the last quarter. Finally, Synovus Financial Corp purchased a new position in shares of Toast in the 3rd quarter worth $425,000. 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.