Analysts Set Toast, Inc. (NYSE:TOST) Target Price at $40.91

Toast, Inc. (NYSE:TOST) has earned an average recommendation of “Hold” from the twenty-four ratings firms that are currently covering the firm, Marketbeat.com reports. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $40.91.

Several brokerages have weighed in on TOST. JPMorgan Chase & Co. lifted their price objective on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. DA Davidson reduced their price target on Toast from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Oppenheimer assumed coverage on Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price on the stock. Morgan Stanley upped their price target on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Evercore ISI assumed coverage on Toast in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price objective for the company.

Toast Price Performance

NYSE TOST opened at $42.85 on Friday. The firm has a market cap of $21.31 billion, a P/E ratio of -4,280.32, a P/E/G ratio of 2.16 and a beta of 1.98. Toast has a one year low of $21.32 and a one year high of $44.12. The stock’s 50-day moving average is $34.69 and its 200-day moving average is $37.00.

Toast (NYSE:TOST) last posted its quarterly earnings results 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). Toast had a net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Equities analysts anticipate that Toast will post 0.39 EPS for the current year.

Insider Activity at Toast

In other news, Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the sale, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. This trade represents a 29.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 44,056 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $35.15, for a total transaction of $1,548,568.40. Following the completion of the sale, the president now owns 1,447,717 shares of the company’s stock, valued at $50,887,252.55. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,991 shares of company stock valued at $11,614,520 in the last ninety days. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently made changes to their positions in TOST. Barclays PLC increased its position in shares of Toast by 38.0% in the 3rd quarter. Barclays PLC now owns 309,426 shares of the company’s stock worth $8,758,000 after purchasing an additional 85,171 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Toast in the 3rd quarter worth about $59,000. Tidal Investments LLC increased its position in shares of Toast by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 14,310 shares of the company’s stock worth $405,000 after purchasing an additional 734 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Toast by 106.8% in the 4th quarter. GAMMA Investing LLC now owns 2,784 shares of the company’s stock worth $101,000 after purchasing an additional 1,438 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Toast by 9.6% in the 4th quarter. Nordea Investment Management AB now owns 33,882 shares of the company’s stock worth $1,238,000 after purchasing an additional 2,975 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.