Toast (NYSE:TOST) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Toast (NYSE:TOST - Free Report) had its price target upped by JPMorgan Chase & Co. from $36.00 to $42.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other brokerages have also recently issued reports on TOST. Piper Sandler raised their price objective on Toast from $25.00 to $35.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. Morgan Stanley raised their price objective on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday. Wedbush raised their target price on Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. The Goldman Sachs Group dropped their target price on Toast from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Toast in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.23.

Toast Price Performance

Toast stock traded down $2.58 during midday trading on Thursday, reaching $37.68. The company's stock had a trading volume of 9,868,518 shares, compared to its average volume of 6,186,486. The stock's 50-day simple moving average is $38.60 and its 200-day simple moving average is $33.35. Toast has a 52-week low of $20.57 and a 52-week high of $44.12. The stock has a market capitalization of $17.75 billion, a P/E ratio of -3,764.44, a PEG ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST - Get Free Report) last announced 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 analysts' expectations of $1.32 billion. As a group, equities research analysts expect that Toast will post 0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Yuan sold 189,785 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares of the company's stock, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares of the company's stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 339,564 shares of company stock valued at $13,577,845 in the last three months. 13.32% of the stock is currently owned by insiders.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after acquiring an additional 4,147,430 shares during the period. Capital International Investors boosted its holdings in Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after acquiring an additional 785,641 shares during the period. FMR LLC boosted its holdings in Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after acquiring an additional 5,403,896 shares during the period. ValueAct Holdings L.P. purchased a new position in Toast during the 3rd quarter valued at about $438,301,000. Finally, State Street Corp boosted its holdings in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company's stock valued at $235,689,000 after acquiring an additional 206,789 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

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.