Toast (NYSE:TOST) PT Raised to $28.00

Toast (NYSE:TOST) had its price objective upped by equities research analysts at Robert W. Baird from $24.00 to $28.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 24.83% from the company’s previous close.

A number of other analysts have also recently weighed in on TOST. UBS Group raised their price objective on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Wells Fargo & Company lifted their target price on shares of Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Wednesday, February 7th. Evercore ISI started coverage on shares of Toast in a report on Monday, March 4th. They issued an “outperform” rating and a $32.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 target price on shares of Toast in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.32.

Toast Stock Down 0.3 %

Shares of NYSE:TOST opened at $22.43 on Monday. The firm’s 50 day moving average price is $22.89 and its 200 day moving average price is $18.96. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of -43.98 and a beta of 1.79. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $27.00.

Toast (NYSE:TOST) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis. On average, equities analysts anticipate that Toast will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 224,900 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the sale, the general counsel now directly owns 160,340 shares in the company, valued at approximately $2,945,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Toast news, insider James Michael Matlock sold 5,804 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $18.72, for a total transaction of $108,650.88. Following the sale, the insider now directly owns 43,884 shares in the company, valued at approximately $821,508.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 224,900 shares of Toast stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total value of $4,131,413.00. Following the transaction, the general counsel now directly owns 160,340 shares of the company’s stock, valued at approximately $2,945,445.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 363,688 shares of company stock worth $7,499,141. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new position in shares of Toast during the 1st quarter worth $37,000. Baystate Wealth Management LLC acquired a new position in shares of Toast during the 3rd quarter worth $29,000. Principal Securities Inc. acquired a new position in shares of Toast during the 4th quarter worth $30,000. BluePath Capital Management LLC acquired a new position in shares of Toast during the 3rd quarter worth $30,000. Finally, Cape Investment Advisory Inc. acquired a new position in shares of Toast during the 4th quarter worth $31,000. Institutional investors and hedge funds 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.