Toast (NYSE:TOST) Price Target Raised to $35.00

Toast (NYSE:TOST - Get Free Report) had its price objective increased by investment analysts at Piper Sandler from $25.00 to $35.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's price target suggests a potential downside of 7.77% from the stock's current price.

Several other brokerages have also issued reports on TOST. Bank of America increased their target price on Toast from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a "buy" rating and set a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. The Goldman Sachs Group raised their price target on Toast from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Finally, Wedbush raised their price target on Toast from $35.00 to $45.00 and gave the company an "outperform" rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Toast has a consensus rating of "Hold" and a consensus price target of $32.30.

Toast Stock Performance

TOST stock traded up $0.47 during trading on Monday, hitting $37.95. 15,401,809 shares of the company traded hands, compared to its average volume of 7,254,399. The firm has a market capitalization of $17.49 billion, a PE ratio of -288.31 and a beta of 1.74. Toast has a 1 year low of $13.77 and a 1 year high of $38.40. The company has a 50-day moving average of $28.19 and a 200-day moving average of $26.01.

Insider Activity at Toast

In other news, President Stephen Fredette sold 211,686 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares of the company's stock, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Jonathan Vassil sold 1,367 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the completion of the transaction, the executive now directly owns 39,834 shares of the company's stock, valued at $1,238,040.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the transaction, the president now directly owns 2,638,023 shares of the company's stock, valued at approximately $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,375,651 shares of company stock worth $38,150,212. Insiders own 13.32% of the company's stock.

Institutional Trading of Toast

A number of hedge funds have recently bought and sold shares of the company. Capital International Investors boosted its position in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company's stock worth $820,468,000 after acquiring an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company's stock valued at $486,557,000 after purchasing an additional 3,445,788 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Toast by 9.1% in the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company's stock valued at $248,611,000 after purchasing an additional 833,390 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Toast during the 1st quarter valued at $179,111,000. Finally, Meritage Group LP lifted its holdings in shares of Toast by 37.3% during the 1st quarter. Meritage Group LP now owns 5,284,811 shares of the company's stock valued at $131,697,000 after acquiring an additional 1,436,494 shares in the last quarter. Institutional investors and hedge funds 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.