Toast (NYSE:TOST) Price Target Raised to $47.00

Toast (NYSE:TOST - Free Report) had its target price hoisted by UBS Group from $41.00 to $47.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

TOST has been the topic of a number of other research reports. Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Toast in a research report on Thursday. BMO Capital Markets boosted their price objective on Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday. The Goldman Sachs Group lowered their target price on Toast from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Royal Bank of Canada lifted their target price on Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, November 8th. Finally, Robert W. Baird raised their price objective on shares of Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Toast has a consensus rating of "Hold" and an average target price of $40.23.

Toast Stock Performance

Shares of Toast stock traded down $2.58 during trading hours on Thursday, hitting $37.68. The company's stock had a trading volume of 9,872,756 shares, compared to its average volume of 6,186,769. The stock has a market cap of $17.75 billion, a price-to-earnings ratio of -3,764.44, a P/E/G ratio of 2.16 and a beta of 1.98. Toast has a twelve month low of $20.57 and a twelve month high of $44.12. The firm has a fifty day moving average of $38.60 and a 200-day moving average of $33.44.

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

Insider Transactions at Toast

In other news, President Stephen Fredette sold 1,068 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction 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 sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 339,564 shares of company stock valued at $13,577,845. 13.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Toast

Institutional investors and hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Toast by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company's stock worth $1,408,000 after buying an additional 301 shares during the period. Keel Point LLC increased its holdings in shares of Toast by 2.7% in the 4th quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after acquiring an additional 326 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Toast by 11.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock valued at $125,000 after acquiring an additional 358 shares during the period. Mirador Capital Partners LP raised its position in Toast by 0.9% in the 4th quarter. Mirador Capital Partners LP now owns 41,938 shares of the company's stock valued at $1,529,000 after purchasing an additional 360 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares during the period. 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.