Robert W. Baird Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its target price raised by Robert W. Baird from $30.00 to $33.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential upside of 11.43% from the stock’s current price.

A number of other equities analysts have also commented on the company. Loop Capital began coverage on Toast in a research note on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price objective on the stock. Wall Street Zen cut Toast from a “buy” rating to a “hold” rating in a report on Saturday. Mizuho reduced their price target on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Rothschild & Co Redburn reissued a “neutral” rating and set a $35.00 price objective on shares of Toast in a report on Tuesday, May 12th. Finally, Truist Financial lowered their price objective on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.41.

Toast Price Performance

Shares of TOST opened at $29.62 on Wednesday. The company has a market capitalization of $15.28 billion, a P/E ratio of 45.56 and a beta of 1.74. Toast has a one year low of $22.26 and a one year high of $49.66. The business’s 50 day simple moving average is $25.69 and its 200-day simple moving average is $28.58.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 11,605 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $334,804.25. Following the transaction, the chief financial officer owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 6,647 shares of Toast stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $191,765.95. Following the transaction, the executive directly owned 69,966 shares in the company, valued at $2,018,519.10. The trade was a 8.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 156,115 shares of company stock valued at $4,184,238 over the last three months. 10.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in shares of Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after acquiring an additional 16,379 shares in the last quarter. Cerity Partners LLC grew its position in Toast by 24.0% in the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after purchasing an additional 15,774 shares in the last quarter. State Street Corp increased its stake in Toast by 2.7% in the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after buying an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new position in shares of Toast during the 2nd quarter worth about $4,479,000. Finally, Sei Investments Co. grew its stake in Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after purchasing an additional 203,404 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.