Robert W. Baird Raises Toast (NYSE:TOST) Price Target to $40.00

Toast (NYSE:TOST) had its target price hoisted by equities researchers at Robert W. Baird from $38.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 6.15% from the company’s previous close.

A number of other research analysts have also commented on TOST. Deutsche Bank Aktiengesellschaft raised their price target on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Piper Sandler lifted their target price on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. BNP Paribas lowered Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Wednesday, November 20th. Finally, BMO Capital Markets assumed coverage on Toast in a report on Monday, January 6th. They set an “outperform” rating and a $45.00 target price on the stock. One investment 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’s stock. According to MarketBeat.com, Toast 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. Toast has a 1-year low of $20.57 and a 1-year high of $44.12. The business’s fifty day moving average price is $38.60 and its two-hundred 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 (NYSE:TOST) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Equities research analysts expect that Toast will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CRO Jonathan Vassil sold 1,006 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $39,867.78. Following the completion of the transaction, the executive now directly owns 48,488 shares in the company, valued at $1,921,579.44. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 2,052 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 160,498 shares in the company, valued at approximately $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 339,564 shares of company stock worth $13,577,845. 13.32% of the stock is currently owned by insiders.

Institutional Trading of Toast

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank bought a new stake in Toast in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC bought a new stake in Toast in the fourth quarter valued at $34,000. SBI Securities Co. Ltd. bought a new stake in Toast in the fourth quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Toast in the fourth quarter valued at $40,000. 82.91% of the stock is currently owned by institutional investors.

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.