Keefe, Bruyette & Woods Boosts Toast (NYSE:TOST) Price Target to $26.00

Toast (NYSE:TOST) had its price objective raised by stock analysts at Keefe, Bruyette & Woods from $25.00 to $26.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential downside of 0.46% from the company’s current price.

Several other brokerages have also commented on TOST. Needham & Company LLC lifted their price target on shares of Toast from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, April 15th. Redburn Atlantic upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, February 7th. BNP Paribas raised Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Thursday, March 7th. Finally, Wells Fargo & Company increased their price target on Toast from $15.00 to $17.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.89.

Toast Stock Performance

Shares of TOST traded up $2.39 during midday trading on Wednesday, hitting $26.12. 6,321,997 shares of the stock were exchanged, compared to its average volume of 7,979,440. Toast has a 52-week low of $13.77 and a 52-week high of $27.00. The stock has a fifty day simple moving average of $23.63 and a 200 day simple moving average of $19.52. The firm has a market cap of $11.79 billion, a P/E ratio of -50.61 and a beta of 1.77.

Toast (NYSE:TOST) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted ($0.16) EPS. Toast’s revenue was up 31.3% compared to the same quarter last year. As a group, equities research analysts forecast that Toast will post -0.22 EPS for the current fiscal year.

Insider Transactions at Toast

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at $579,409.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total value of $2,524,000.00. Following the sale, the executive now directly owns 22,956 shares of the company’s stock, valued at $579,409.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 1,481 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $34,655.40. Following the transaction, the general counsel now directly owns 162,883 shares of the company’s stock, valued at approximately $3,811,462.20. The disclosure for this sale can be found here. Insiders have sold a total of 180,510 shares of company stock worth $4,381,885 in the last 90 days. 13.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Toast by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after acquiring an additional 1,598,248 shares during the period. Capital International Investors grew its position in Toast by 9.1% in the fourth quarter. Capital International Investors now owns 29,349,685 shares of the company’s stock valued at $535,925,000 after acquiring an additional 2,449,778 shares during the period. HMI Capital Management L.P. raised its stake in Toast by 5.6% during the fourth quarter. HMI Capital Management L.P. now owns 15,189,265 shares of the company’s stock worth $277,356,000 after acquiring an additional 808,244 shares in the last quarter. Morgan Stanley boosted its stake in shares of Toast by 149.3% in the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after purchasing an additional 7,191,595 shares in the last quarter. Finally, Abdiel Capital Advisors LP boosted its stake in shares of Toast by 0.3% in the 4th quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock valued at $199,280,000 after purchasing an additional 37,091 shares in the last quarter. 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.