Toast (NYSE:TOST) PT Raised to $27.00 at Royal Bank of Canada

Toast (NYSE:TOST) had its price target increased by equities researchers at Royal Bank of Canada from $23.00 to $27.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 0.78% from the stock’s current price.

TOST has been the subject of a number of other research reports. The Goldman Sachs Group upped their target price on Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Robert W. Baird upped their price target on Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Canaccord Genuity Group upped their price target on Toast from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Redburn Atlantic upgraded Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, February 7th. Finally, Evercore ISI started coverage on Toast in a research report on Monday, March 4th. They issued an “outperform” rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.35.

Toast Trading Up 12.9 %

Shares of NYSE:TOST traded up $3.06 during trading on Wednesday, hitting $26.79. 19,629,543 shares of the company were exchanged, compared to its average volume of 8,132,714. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $27.31. The firm has a fifty day moving average price of $23.63 and a two-hundred day moving average price of $19.52. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of -52.90 and a beta of 1.77.

Toast (NYSE:TOST) last announced its quarterly earnings data 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 firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm earned ($0.16) EPS. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. As a group, research analysts predict that Toast will post -0.22 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 2,471 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now directly owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the sale, the executive now owns 25,422 shares of the company’s stock, valued at approximately $582,163.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Aman Narang sold 2,471 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the transaction, the chief executive officer now owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,510 shares of company stock worth $4,381,885. 13.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Toast

Institutional investors have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in shares of Toast by 105.0% in the 3rd quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock worth $12,943,000 after purchasing an additional 353,903 shares during the period. Vanguard Group Inc. lifted its stake in shares of Toast by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after purchasing an additional 3,494,579 shares during the period. ARK Investment Management LLC raised its stake in Toast by 101.5% during the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock worth $42,829,000 after acquiring an additional 1,181,409 shares during the period. International Assets Investment Management LLC raised its stake in Toast by 1,542.9% during the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock worth $1,047,000 after acquiring an additional 53,846 shares during the period. Finally, Hudson Bay Capital Management LP bought a new stake in Toast during the 3rd quarter worth approximately $936,000. 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.