Toast (NYSE:TOST) PT Raised to $28.00 at Bank of America

Toast (NYSE:TOST) had its price target boosted by analysts at Bank of America from $26.00 to $28.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price would suggest a potential upside of 6.42% from the company’s current price.

A number of other research firms have also issued reports on TOST. Wedbush upgraded shares of Toast to a “strong-buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. Baird R W lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Toast Trading Down 1.6 %

Shares of NYSE:TOST opened at $26.31 on Tuesday. The stock has a fifty day moving average of $24.98 and a 200-day moving average of $24.54. Toast has a one year low of $13.77 and a one year high of $27.90.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. Toast’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) EPS. As a group, equities research analysts anticipate that Toast will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 6,355 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the sale, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Toast news, CEO Aman Narang sold 6,355 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the sale, the chief executive officer now directly owns 1,131,043 shares in the company, valued at $28,999,942.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. The disclosure for this sale can be found here. Insiders sold 651,612 shares of company stock valued at $16,191,520 over the last quarter. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently bought and sold shares of TOST. Meritage Group LP bought a new stake in shares of Toast during the fourth quarter valued at approximately $70,270,000. Susquehanna Fundamental Investments LLC acquired a new stake in Toast during the first quarter worth $5,078,000. Syon Capital LLC bought a new stake in Toast in the 4th quarter valued at $377,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Toast by 8,092.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock valued at $1,267,000 after buying an additional 68,539 shares in the last quarter. Finally, WoodTrust Financial Corp bought a new position in shares of Toast during the 1st quarter worth about $754,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.