Toast (NYSE:TOST) Price Target Raised to $42.00

Toast (NYSE:TOST) had its price target lifted by analysts at JPMorgan Chase & Co. from $36.00 to $42.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 8.43% from the company’s previous close.

Several other analysts have also weighed in on the stock. DA Davidson reiterated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. The Goldman Sachs Group reduced their price target on shares of Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. UBS Group boosted their price target on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer began coverage on shares of Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target on the stock. Finally, Piper Sandler boosted their target price on shares of Toast from $25.00 to $35.00 and gave the stock 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 stock. Based on data from MarketBeat, Toast has an average rating of “Hold” and a consensus target price of $39.09.

Toast Price Performance

Shares of Toast stock traded down $1.25 during trading on Thursday, hitting $38.74. 4,916,239 shares of the company’s stock traded hands, compared to its average volume of 5,646,197. The firm’s fifty day moving average price is $38.59 and its 200 day moving average price is $33.30. Toast has a twelve month low of $20.49 and a twelve month high of $44.12. The company has a market cap of $18.24 billion, a PE ratio of -297.35, a PEG ratio of 2.27 and a beta of 1.98.

Toast (NYSE:TOST) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. As a group, equities research analysts anticipate that Toast will post 0.03 earnings per share for the current year.

Insider Transactions at Toast

In other news, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the transaction, the director now owns 182,451 shares in the company, valued at approximately $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Yuan sold 189,785 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,564 shares of company stock worth $13,577,845. Company insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares in the last quarter. Piscataqua Savings Bank acquired a new stake in Toast during the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast during the fourth quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new stake in Toast during the fourth quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Toast during the fourth quarter worth approximately $40,000. 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.