Toast (NYSE:TOST) Price Target Raised to $47.00 at UBS Group

Toast (NYSE:TOST) had its price target boosted by UBS Group from $41.00 to $47.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

TOST has been the subject of a number of other reports. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods upped their target price on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday. Royal Bank of Canada raised their price target on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Compass Point initiated coverage on shares of Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.23.

Toast Stock Up 1.2 %

Shares of NYSE TOST opened at $40.45 on Thursday. The stock’s fifty day moving average price is $38.60 and its two-hundred day moving average price is $33.35. Toast has a one year low of $20.49 and a one year high of $44.12.

Toast (NYSE:TOST) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Equities research analysts expect that Toast will post 0.38 EPS for the current year.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 1,006 shares of Toast stock in a transaction that occurred 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 completion of the sale, the executive now directly owns 48,488 shares in the company, valued at approximately $1,921,579.44. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. 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. 13.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted 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 purchasing an additional 4,147,430 shares in the last quarter. Capital International Investors increased its stake in Toast by 1.9% in the 4th 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 lifted its position in shares of Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. ValueAct Holdings L.P. purchased a new position in shares of Toast in the 3rd quarter worth approximately $438,301,000. Finally, State Street Corp grew its holdings in shares of Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after acquiring an additional 206,789 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.