Toast (NYSE:TOST) Price Target Raised to $45.00 at Royal Bank of Canada

Toast (NYSE:TOST - Free Report) had its price target boosted by Royal Bank of Canada from $40.00 to $45.00 in a research note published on Thursday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Toast in a research note on Thursday. Piper Sandler boosted their price target on shares of Toast from $25.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. BNP Paribas downgraded shares of Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price objective for the company. in a report on Wednesday, November 20th. Finally, BMO Capital Markets raised their target price on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $40.23.

Toast Stock Down 6.4 %

Shares of NYSE TOST traded down $2.58 during trading on Thursday, hitting $37.68. The company had a trading volume of 9,872,756 shares, compared to its average volume of 6,186,769. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of -3,764.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The stock has a fifty day simple moving average of $38.60 and a two-hundred day simple moving average of $33.44. Toast has a fifty-two week low of $20.57 and a fifty-two week high of $44.12.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. On average, analysts anticipate that Toast will post 0.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Yuan sold 189,785 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the sale, the director now directly owns 198,829 shares in the company, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares of the company's stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 339,564 shares of company stock worth $13,577,845 over the last ninety days. Corporate insiders own 13.32% of the company's stock.

Institutional Investors Weigh In On Toast

A number of large investors have recently modified their holdings of TOST. Raleigh Capital Management Inc. grew its stake in shares of Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company's stock worth $42,000 after purchasing an additional 720 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Toast by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company's stock worth $797,000 after acquiring an additional 441 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Toast by 2,731.0% in the 3rd quarter. International Assets Investment Management LLC now owns 95,971 shares of the company's stock valued at $2,717,000 after acquiring an additional 92,581 shares during the last quarter. Taylor Frigon Capital Management LLC acquired a new stake in Toast during the third quarter worth approximately $1,277,000. Finally, Assenagon Asset Management S.A. raised its stake in Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company's stock worth $108,427,000 after acquiring an additional 3,701,893 shares in the last quarter. 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.