Toast (NYSE:TOST) Price Target Raised to $37.00 at Piper Sandler

Toast (NYSE:TOST) had its target price hoisted by Piper Sandler from $35.00 to $37.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential downside of 9.42% from the stock’s current price.

TOST has been the topic of several other reports. Evercore ISI assumed coverage on Toast in a research report on Wednesday, April 9th. They set an “in-line” rating and a $29.00 target price on the stock. UBS Group lifted their price objective on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada increased their target price on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. BMO Capital Markets lifted their price target on shares of Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Robert W. Baird increased their price objective on shares of Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.91.

Toast Stock Up 11.5 %

NYSE TOST opened at $40.85 on Friday. The company has a 50-day moving average price of $34.56 and a 200-day moving average price of $36.86. Toast has a 52 week low of $21.32 and a 52 week high of $44.12. The firm has a market capitalization of $20.32 billion, a P/E ratio of -4,080.92, a PEG ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business 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, equities research analysts anticipate that Toast will post 0.39 EPS for the current year.

Insider Activity

In other Toast news, Director Christopher P. Comparato sold 70,000 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the transaction, the director now owns 164,796 shares in the company, valued at $5,884,865.16. The trade was a 29.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 70,340 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the sale, the president now owns 1,574,316 shares of the company’s stock, valued at $53,322,082.92. This trade represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 335,991 shares of company stock worth $11,614,520. 13.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after buying an additional 155,446 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in Toast by 134.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock valued at $14,319,000 after acquiring an additional 225,215 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in Toast in the fourth quarter worth $1,572,000. Forsta AP Fonden lifted its position in shares of Toast by 191.4% during the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company’s stock worth $8,540,000 after purchasing an additional 153,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Toast by 129,058.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock valued at $75,466,000 after purchasing an additional 2,072,680 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.