Toast (NYSE:TOST) Price Target Raised to $50.00

Toast (NYSE:TOST) had its target price upped by Morgan Stanley from $46.00 to $50.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on TOST. Piper Sandler upped their target price on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Wednesday, November 20th. Robert W. Baird upped their target price on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their target price on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Compass Point initiated coverage on Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Toast has an average rating of “Hold” and a consensus price target of $40.23.

Toast Price Performance

NYSE:TOST opened at $40.45 on Thursday. Toast has a fifty-two week low of $20.49 and a fifty-two week high of $44.12. The business has a 50 day moving average price of $38.60 and a 200-day moving average price of $33.35.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, research analysts forecast that Toast will post 0.38 earnings per share for the current year.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 1,006 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $39,867.78. Following the sale, the executive now directly owns 48,488 shares of the company’s stock, valued at approximately $1,921,579.44. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Elena Gomez sold 2,052 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at approximately $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 339,564 shares of company stock valued at $13,577,845. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. Capital International Investors boosted its position in shares of Toast by 1.9% during the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock valued at $1,529,657,000 after buying an additional 785,641 shares during the last quarter. FMR LLC boosted its position in shares of Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after buying an additional 5,403,896 shares during the last quarter. ValueAct Holdings L.P. purchased a new stake in shares of Toast during the third quarter valued at $438,301,000. Finally, State Street Corp boosted its position in shares of Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after buying an additional 206,789 shares during the last quarter. 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.