Canaccord Genuity Group Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST - Free Report) had its price target hoisted by Canaccord Genuity Group from $43.00 to $48.00 in a report released on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

TOST has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Royal Bank of Canada increased their price target on shares of Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, November 8th. Oppenheimer initiated coverage on shares of Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 price target on the stock. DA Davidson reissued a "neutral" rating and set a $38.00 price target (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. Finally, BNP Paribas cut shares of Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Toast currently has a consensus rating of "Hold" and an average target price of $40.23.

Toast Stock Performance

Shares of NYSE TOST traded down $2.58 during mid-day trading on Thursday, hitting $37.68. 9,872,756 shares of the stock were exchanged, compared to its average volume of 6,186,769. The company has a market cap of $17.75 billion, a P/E ratio of -3,764.44, a PEG ratio of 2.16 and a beta of 1.98. The stock's fifty day simple moving average is $38.60 and its two-hundred day simple moving average is $33.44. Toast has a twelve month low of $20.57 and a twelve month 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 for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, equities research analysts predict that Toast will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at Toast

In related news, Director Christopher P. Comparato sold 145,000 shares of the firm's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the sale, the director now directly owns 182,451 shares in the company, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Yuan sold 189,785 shares of the firm's stock in a transaction on 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 sale, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 339,564 shares of company stock valued at $13,577,845 over the last three months. 13.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after acquiring an additional 378 shares during the period. Piscataqua Savings Bank acquired a new stake in shares of Toast during the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast in the 4th quarter valued at $34,000. SBI Securities Co. Ltd. acquired a new stake in Toast in the 4th quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Toast in the 4th quarter valued at $40,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.