Toast (NYSE:TOST) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Toast (NYSE:TOST - Free Report) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued an in-line rating and a $29.00 price objective on the stock.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada increased their price objective on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. Oppenheimer began coverage on shares of Toast in a report on Friday, January 24th. They issued an "outperform" rating and a $46.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research note on Thursday, February 20th. The Goldman Sachs Group dropped their price objective on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Morgan Stanley increased their price objective on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $40.27.

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Toast Stock Performance

Shares of NYSE TOST traded up $0.16 during mid-day trading on Wednesday, reaching $34.24. 2,075,686 shares of the company's stock were exchanged, compared to its average volume of 6,803,465. The company's 50-day moving average is $36.10 and its 200-day moving average is $35.97. The firm has a market capitalization of $16.91 billion, a price-to-earnings ratio of -3,420.58, a PEG ratio of 2.16 and a beta of 2.00. Toast has a 52-week low of $21.32 and a 52-week high of $44.12.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 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 for the quarter, compared to analyst estimates of $1.32 billion. As a group, equities analysts predict that Toast will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Toast

In other Toast news, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the sale, the director now owns 13,260 shares of the company's stock, valued at approximately $437,712.60. The trade was a 72.07 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company's stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock worth $9,409,211 over the last ninety days. Insiders own 13.32% of the company's stock.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Toast by 0.8% in the 4th 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 last quarter. Keel Point LLC boosted its holdings in Toast by 2.7% in the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after acquiring an additional 326 shares in the last quarter. EverSource Wealth Advisors LLC raised its position 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 worth $125,000 after acquiring an additional 358 shares in the last quarter. Mirador Capital Partners LP grew its holdings in Toast by 0.9% in the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company's stock worth $1,529,000 after purchasing an additional 360 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Toast by 120.4% in 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 last quarter. Institutional investors 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.