Toast (NYSE:TOST) Price Target Raised to $40.00

Toast (NYSE:TOST - Free Report) had its price target hoisted by Royal Bank of Canada from $27.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts also recently issued reports on the company. DA Davidson lifted their price objective on Toast from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Mizuho raised Toast from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Wells Fargo & Company increased their price objective on Toast from $23.00 to $25.00 and gave the company an "underweight" rating in a research note on Friday. Robert W. Baird lifted their price objective on Toast from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Morgan Stanley upped their target price on shares of Toast from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $31.80.

Toast Trading Up 14.5 %

Shares of NYSE:TOST traded up $4.73 during midday trading on Friday, hitting $37.40. 28,785,664 shares of the stock were exchanged, compared to its average volume of 7,216,790. Toast has a twelve month low of $13.77 and a twelve month high of $38.40. The company has a 50 day moving average price of $28.19 and a 200-day moving average price of $25.97. The stock has a market cap of $17.24 billion, a P/E ratio of -128.96 and a beta of 1.74.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.04. The company had revenue of $1.24 billion during 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 quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) earnings per share. On average, equities research analysts expect that Toast will post -0.1 earnings per share for the current year.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 300,000 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 $9,117,000.00. Following the transaction, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. 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 can be accessed through the SEC website. In other news, CFO Elena Gomez sold 1,917 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $59,580.36. Following the completion of the sale, the chief financial officer now owns 159,615 shares of the company's stock, valued at $4,960,834.20. 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 is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the transaction, the general counsel now owns 177,836 shares in the company, valued at $5,404,436.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,375,651 shares of company stock worth $38,150,212 in the last ninety days. Insiders own 13.32% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TOST. Stephens Investment Management Group LLC boosted its position in shares of Toast by 13.1% in the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company's stock worth $53,358,000 after buying an additional 218,959 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Toast in the 1st quarter worth approximately $5,078,000. QRG Capital Management Inc. grew its position in Toast by 39.7% in the second quarter. QRG Capital Management Inc. now owns 84,967 shares of the company's stock valued at $2,190,000 after acquiring an additional 24,164 shares in the last quarter. Epoch Investment Partners Inc. purchased a new stake in shares of Toast during the first quarter valued at approximately $633,000. Finally, Duality Advisers LP acquired a new position in shares of Toast during the first quarter worth $1,172,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.