Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST - Free Report) had its price objective raised by Deutsche Bank Aktiengesellschaft from $24.00 to $30.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. Bank of America increased their target price on Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, September 17th. Mizuho raised shares of Toast from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. The Goldman Sachs Group increased their target price on Toast from $29.00 to $33.00 and gave the company a "buy" rating in a report on Monday, October 14th. Finally, Morgan Stanley lifted their price target on Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.30.

Toast Stock Performance

NYSE TOST traded down $0.66 during trading hours on Monday, reaching $30.32. The stock had a trading volume of 5,429,002 shares, compared to its average volume of 7,075,534. Toast has a 52-week low of $13.77 and a 52-week high of $31.57. The stock has a fifty day moving average of $27.37 and a 200 day moving average of $25.65. The stock has a market cap of $13.98 billion, a P/E ratio of -107.10 and a beta of 1.74.

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

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the transaction, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Aman Narang sold 10,106 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares in the company, valued at approximately $26,883,998.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the transaction, the general counsel now directly owns 177,836 shares of the company's stock, valued at $5,404,436.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,370,721 shares of company stock worth $37,996,988. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently made changes to their positions in TOST. Wealth Enhancement Advisory Services LLC grew its holdings in Toast by 21.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 46,362 shares of the company's stock worth $1,155,000 after acquiring an additional 8,095 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Toast by 52.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,910 shares of the company's stock valued at $97,000 after buying an additional 1,345 shares during the last quarter. Norden Group LLC purchased a new position in Toast in the first quarter valued at $254,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Toast by 15.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 483,140 shares of the company's stock valued at $12,040,000 after buying an additional 65,654 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in Toast during the 1st quarter worth about $212,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

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.