Toast (NYSE:TOST) Price Target Raised to $48.00

Toast (NYSE:TOST - Free Report) had its target price increased by BMO Capital Markets from $46.00 to $48.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird raised their target price on shares of Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday. DA Davidson reaffirmed a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on shares of Toast from $28.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Oppenheimer began coverage on shares of Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 target price for the company. Finally, BNP Paribas cut shares of Toast from an "outperform" rating to a "neutral" rating and set a $37.00 target price for the company. in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $40.23.

Toast Stock Performance

Shares of NYSE TOST traded down $2.58 during midday trading on Thursday, reaching $37.68. The stock had a trading volume of 9,872,756 shares, compared to its average volume of 6,186,769. The stock has a 50-day moving average of $38.60 and a 200-day moving average of $33.44. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of -3,764.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast has a 12-month low of $20.57 and a 12-month high of $44.12.

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 analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, analysts forecast that Toast will post 0.38 EPS for the current fiscal year.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were 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 owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 1,006 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 transaction of $39,867.78. Following the completion of the transaction, the executive now directly owns 48,488 shares in the company, valued at $1,921,579.44. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 339,564 shares of company stock worth $13,577,845. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the period. Capital International Investors increased its stake in Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock worth $1,529,657,000 after buying an additional 785,641 shares during the period. FMR LLC increased its stake in Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after buying an additional 5,403,896 shares during the period. ValueAct Holdings L.P. purchased a new position in Toast in the 3rd quarter worth about $438,301,000. Finally, State Street Corp increased its stake in Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company's stock worth $235,689,000 after buying an additional 206,789 shares during the period. 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.