Toast (NYSE:TOST) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Toast (NYSE:TOST) had its target price increased by stock analysts at JPMorgan Chase & Co. from $36.00 to $42.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.46% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada increased their price target on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Toast in a research report on Thursday. Robert W. Baird increased their price target on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday. The Goldman Sachs Group cut their target price on shares of Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Piper Sandler raised their target price on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and an average price target of $40.23.

Toast Price Performance

Shares of TOST opened at $37.68 on Thursday. The firm’s 50 day simple moving average is $38.60 and its 200 day simple moving average is $33.44. The company has a market capitalization of $17.75 billion, a P/E 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 earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share 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 company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. On average, equities analysts anticipate that Toast will post 0.38 earnings per share for the current year.

Insider Buying and Selling at Toast

In other Toast news, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 182,451 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link. Also, CFO Elena Gomez sold 2,052 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the transaction, the chief financial officer now directly owns 160,498 shares of the company’s stock, valued at $6,360,535.74. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 339,564 shares of company stock valued at $13,577,845. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the last quarter. Capital International Investors raised its position in shares of Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after purchasing an additional 785,641 shares during the last quarter. FMR LLC raised its position in shares of Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the last quarter. ValueAct Holdings L.P. purchased a new position in shares of Toast in the 3rd quarter worth about $438,301,000. Finally, State Street Corp raised its position in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares during the last quarter. Hedge funds and other institutional investors 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.