Toast (NYSE:TOST) PT Raised to $31.00 at UBS Group

Toast (NYSE:TOST) had its price target upped by investment analysts at UBS Group from $22.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 26.02% from the company’s previous close.

TOST has been the subject of several other reports. Wells Fargo & Company boosted their price target on Toast from $12.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, February 16th. Redburn Atlantic upgraded Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, February 7th. The Goldman Sachs Group upgraded Toast from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.00 to $24.00 in a research note on Wednesday, January 10th. BNP Paribas upgraded Toast from a “neutral” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Thursday, March 7th. Finally, Bank of America downgraded Toast from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $16.00 in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Toast presently has an average rating of “Hold” and a consensus price target of $23.20.

Toast Price Performance

Shares of TOST traded up $0.27 during mid-day trading on Thursday, reaching $24.60. The company had a trading volume of 1,066,997 shares, compared to its average volume of 8,793,109. The company’s 50-day moving average is $21.25 and its 200-day moving average is $18.57. Toast has a twelve month low of $13.77 and a twelve month high of $27.00. The company has a market capitalization of $10.75 billion, a P/E ratio of -48.47 and a beta of 1.78.

Toast (NYSE:TOST) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. As a group, equities analysts expect that Toast will post -0.22 EPS for the current fiscal year.

Insider Activity

In other Toast news, CFO Elena Gomez sold 11,650 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total value of $202,593.50. Following the completion of the transaction, the chief financial officer now owns 170,314 shares in the company, valued at approximately $2,961,760.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Elena Gomez sold 11,650 shares of Toast stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total value of $202,593.50. Following the sale, the chief financial officer now directly owns 170,314 shares in the company, valued at approximately $2,961,760.46. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Aman Narang sold 2,871 shares of Toast stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total value of $49,926.69. Following the completion of the sale, the chief executive officer now directly owns 1,156,538 shares of the company’s stock, valued at approximately $20,112,195.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 359,444 shares of company stock worth $7,276,642. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Toast

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altimeter Capital Management LP increased its position in shares of Toast by 3,508.4% in the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock worth $3,933,007,000 after purchasing an additional 17,541,796 shares during the last quarter. Morgan Stanley boosted its position in shares of Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after purchasing an additional 7,191,595 shares in the last quarter. Blue Owl Capital Holdings LP lifted its position in shares of Toast by 1,726.0% in the 4th quarter. Blue Owl Capital Holdings LP now owns 5,890,274 shares of the company’s stock valued at $107,556,000 after acquiring an additional 5,567,696 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Toast by 23.6% in the third quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock worth $458,348,000 after buying an additional 5,232,858 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Toast during the 2nd quarter valued at $111,554,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.