BMO Capital Markets Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its price target hoisted by stock analysts at BMO Capital Markets from $46.00 to $48.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 27.38% from the company’s current price.

A number of other brokerages also recently commented on TOST. Wedbush lifted their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Compass Point started coverage on Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Morgan Stanley lifted their price objective on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Piper Sandler lifted their target price on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.23.

Toast Price Performance

Shares of NYSE:TOST opened at $37.68 on Thursday. The business’s 50 day moving average price is $38.60 and its 200-day moving average price is $33.44. The firm has a market capitalization of $17.75 billion, a PE ratio of -3,764.44, a P/E/G ratio of 2.16 and a beta of 1.98. Toast has a 1 year low of $20.57 and a 1 year high of $44.12.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. As a group, analysts expect that Toast will post 0.38 earnings per share for the current year.

Insider Activity

In related news, Director David Yuan sold 189,785 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 198,829 shares of the company’s stock, valued at $8,551,635.29. The trade was a 48.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the transaction, the general counsel now directly owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 339,564 shares of company stock valued at $13,577,845. 13.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ascent Group LLC grew its stake in Toast by 10.4% during the 4th quarter. Ascent Group LLC now owns 19,380 shares of the company’s stock worth $706,000 after purchasing an additional 1,830 shares in the last quarter. Mackenzie Financial Corp grew its stake in Toast by 0.6% during the 4th quarter. Mackenzie Financial Corp now owns 147,553 shares of the company’s stock worth $5,378,000 after purchasing an additional 825 shares in the last quarter. Forum Financial Management LP acquired a new position in Toast during the 4th quarter worth $203,000. Toronto Dominion Bank boosted its position in shares of Toast by 10.8% during the 4th quarter. Toronto Dominion Bank now owns 51,300 shares of the company’s stock worth $1,870,000 after acquiring an additional 4,981 shares in the last quarter. Finally, Neo Ivy Capital Management boosted its position in shares of Toast by 104.9% during the 4th quarter. Neo Ivy Capital Management now owns 91,554 shares of the company’s stock worth $3,337,000 after acquiring an additional 46,878 shares in the last quarter. 82.91% of the stock is 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.