Robert W. Baird Increases Toast (NYSE:TOST) Price Target to $40.00

Toast (NYSE:TOST - Free Report) had its price objective raised by Robert W. Baird from $38.00 to $40.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

TOST has been the topic of several other research reports. Piper Sandler increased their target price on Toast from $25.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. The Goldman Sachs Group dropped their target price on Toast from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company increased their target price on Toast from $25.00 to $30.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on Toast from $28.00 to $36.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Toast has an average rating of "Hold" and an average target price of $40.23.

Toast Stock Performance

NYSE TOST traded down $2.58 on Thursday, hitting $37.68. 9,872,756 shares of the stock traded hands, compared to its average volume of 6,186,769. The business's fifty day moving average is $38.60 and its two-hundred day moving average is $33.44. Toast has a 12 month low of $20.57 and a 12 month high of $44.12. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of -3,764.44, a PEG ratio of 2.16 and a beta of 1.98.

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 firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Analysts expect that Toast will post 0.38 EPS for the current fiscal year.

Insider Activity

In other Toast news, CFO Elena Gomez sold 2,052 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now owns 1,644,656 shares of the company's stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 339,564 shares of company stock valued at $13,577,845. 13.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently added to or reduced their stakes in TOST. Blue Trust Inc. raised its holdings in Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank purchased a new position in Toast in the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new position in Toast in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new position in Toast in the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Toast in the 4th quarter worth approximately $40,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.