Toast (NYSE:TOST) Price Target Increased to $33.00 by Analysts at Morgan Stanley

Toast (NYSE:TOST - Get Free Report) had its price target increased by Morgan Stanley from $30.00 to $33.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 12.36% from the stock's current price.

TOST has been the subject of a number of other research reports. Wedbush raised shares of Toast to a "strong-buy" rating in a research note on Friday, September 6th. Robert W. Baird boosted their price target on Toast from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Bank of America increased their price objective on shares of Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. The Goldman Sachs Group boosted their price target on Toast from $29.00 to $33.00 and gave the company a "buy" rating in a report on Monday, October 14th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.94.

Toast Stock Down 0.5 %

Shares of TOST traded down $0.15 during trading hours on Tuesday, reaching $29.37. 3,381,274 shares of the company traded hands, compared to its average volume of 7,150,183. The stock has a fifty day simple moving average of $26.37 and a 200 day simple moving average of $25.22. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $30.70. The stock has a market capitalization of $13.30 billion, a PE ratio of -58.88 and a beta of 1.76.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm's revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. Research analysts predict that Toast will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CRO Jonathan Vassil sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $1,519,500.00. Following the completion of the sale, the executive now owns 38,266 shares of the company's stock, valued at approximately $1,162,903.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CRO Jonathan Vassil sold 50,000 shares of Toast stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $1,519,500.00. Following the completion of the sale, the executive now directly owns 38,266 shares of the company's stock, valued at approximately $1,162,903.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 2,162 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $51,888.00. Following the completion of the sale, the chief financial officer now owns 183,931 shares of the company's stock, valued at $4,414,344. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,387,269 shares of company stock worth $38,394,140 in the last 90 days. 13.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

Several large investors have recently made changes to their positions in TOST. Private Advisor Group LLC boosted its stake in Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company's stock worth $797,000 after purchasing an additional 441 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Toast by 93.4% in the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company's stock valued at $42,000 after purchasing an additional 720 shares in the last quarter. 1858 Wealth Management LLC acquired a new position in shares of Toast during the third quarter worth about $209,000. Toth Financial Advisory Corp bought a new position in shares of Toast during the third quarter worth about $28,000. Finally, Penn Davis Mcfarland Inc. acquired a new stake in Toast in the 3rd quarter valued at approximately $212,000. 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.