DA Davidson Boosts Toast (NYSE:TOST) Price Target to $35.00

Toast (NYSE:TOST) had its price target raised by stock analysts at DA Davidson from $32.00 to $35.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 16.12% from the company’s current price.

Several other equities research analysts have also recently issued reports on TOST. JPMorgan Chase & Co. raised their target price on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Stephens lifted their price target on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Bank of America lifted their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Robert W. Baird lifted their price target on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average target price of $29.26.

Toast Price Performance

Shares of NYSE TOST opened at $30.14 on Tuesday. The company has a 50-day simple moving average of $26.98 and a 200-day simple moving average of $25.48. Toast has a 12 month low of $13.77 and a 12 month high of $30.78. The company has a market cap of $13.89 billion, a PE ratio of -103.93 and a beta of 1.76.

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

Insider Buying and Selling

In related news, CEO Aman Narang sold 1,856 shares of Toast stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $44,544.00. Following the completion of the sale, the chief executive officer now owns 1,132,708 shares in the company, valued at approximately $27,184,992. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Toast news, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the completion of the sale, the president now owns 2,849,709 shares in the company, valued at $68,393,016. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aman Narang sold 1,856 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $44,544.00. Following the sale, the chief executive officer now owns 1,132,708 shares of the company’s stock, valued at approximately $27,184,992. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,387,269 shares of company stock worth $38,394,140. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several institutional investors have recently added to or reduced their stakes in TOST. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Toast by 21.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 46,362 shares of the company’s stock valued at $1,155,000 after acquiring an additional 8,095 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Toast during the first quarter valued at $274,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Toast by 52.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,910 shares of the company’s stock valued at $97,000 after acquiring an additional 1,345 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Toast by 4.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,880,795 shares of the company’s stock valued at $171,469,000 after acquiring an additional 280,418 shares during the period. Finally, Norden Group LLC acquired a new position in shares of Toast during the first quarter valued at $254,000. Institutional investors 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.