Toast (NYSE:TOST) Price Target Raised to $36.00

Toast (NYSE:TOST - Free Report) had its target price raised by JPMorgan Chase & Co. from $28.00 to $36.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

TOST has been the subject of several other research reports. Needham & Company LLC reissued a "buy" rating and issued a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Bank of America raised their price target on shares of Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, September 17th. Morgan Stanley upped their target price on shares of Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. Finally, Wedbush increased their price objective on shares of Toast from $35.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Toast has an average rating of "Hold" and an average price target of $31.80.

Toast Stock Up 14.5 %

NYSE:TOST traded up $4.73 during trading hours on Friday, reaching $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 business has a 50-day moving average of $28.19 and a two-hundred day moving average of $25.97. The company has a market capitalization of $17.24 billion, a price-to-earnings ratio of -128.96 and a beta of 1.74.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. Toast's revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. On average, research analysts forecast that Toast will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Toast

In related news, CFO Elena Gomez sold 1,917 shares of the business's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $59,580.36. Following the sale, the chief financial officer now owns 159,615 shares of the company's stock, valued at approximately $4,960,834.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Elena Gomez sold 1,917 shares of Toast stock in a transaction on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $59,580.36. Following the completion of the transaction, the chief financial officer now directly owns 159,615 shares of the company's stock, valued at approximately $4,960,834.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 1,367 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the sale, the executive now directly owns 39,834 shares in the company, valued at $1,238,040.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,375,651 shares of company stock valued at $38,150,212. 13.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stephens Investment Management Group LLC boosted its position in Toast by 13.1% during the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company's stock worth $53,358,000 after acquiring an additional 218,959 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Toast during the first quarter worth $5,078,000. QRG Capital Management Inc. grew its position in shares of 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 purchasing an additional 24,164 shares during the period. Epoch Investment Partners Inc. acquired a new position in Toast in the first quarter valued at $633,000. Finally, Duality Advisers LP purchased a new position in Toast during the first quarter worth about $1,172,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

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.