Keefe, Bruyette & Woods Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price target boosted by analysts at Keefe, Bruyette & Woods from $40.00 to $42.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 4.73% from the stock’s previous close.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. BNP Paribas cut shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Wednesday, November 20th. Finally, Piper Sandler lifted their price objective on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.86.

Toast Trading Down 4.3 %

Shares of TOST stock opened at $40.10 on Thursday. Toast has a 12 month low of $20.49 and a 12 month high of $44.12. The stock has a market capitalization of $18.89 billion, a P/E ratio of -308.48, a PEG ratio of 2.27 and a beta of 1.98. The firm’s 50 day moving average is $38.59 and its 200 day moving average is $33.30.

Toast (NYSE:TOST) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. On average, equities analysts predict that Toast will post 0.03 EPS for the current year.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Yuan sold 189,785 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the sale, the director now owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 339,564 shares of company stock worth $13,577,845 in the last three months. 13.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings 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 acquiring an additional 4,147,430 shares in the last quarter. Capital International Investors increased its position in Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock valued at $1,529,657,000 after purchasing an additional 785,641 shares during the period. FMR LLC lifted its position in shares of Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. ValueAct Holdings L.P. purchased a new stake in shares of Toast in the 3rd quarter worth about $438,301,000. Finally, State Street Corp increased 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 period. 82.91% of the stock is currently owned by 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.