Toast (NYSE:TOST) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Toast (NYSE:TOST) had its price target hoisted by equities researchers at BMO Capital Markets from $44.00 to $45.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 5.42% from the stock’s previous close.

A number of other brokerages have also weighed in on TOST. Wells Fargo & Company upped their target price on Toast from $39.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday. BNP Paribas set a $37.00 price target on shares of Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Oppenheimer initiated coverage on Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird lifted their price target on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Toast has an average rating of “Hold” and a consensus price target of $40.91.

Toast Trading Up 4.5%

Shares of Toast stock traded up $1.85 during midday trading on Monday, reaching $42.69. The company had a trading volume of 9,334,857 shares, compared to its average volume of 6,820,525. The company has a market capitalization of $21.23 billion, a price-to-earnings ratio of -4,260.74, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The stock has a fifty day simple moving average of $34.56 and a 200 day simple moving average of $36.91. Toast has a 1-year low of $21.32 and a 1-year high of $44.12.

Toast (NYSE:TOST) last released its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (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 firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sell-side analysts expect that Toast will post 0.39 earnings per share for the current year.

Insider Activity

In other news, Director Deval L. Patrick sold 34,222 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the sale, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. This trade represents a 72.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now owns 1,574,316 shares in the company, valued at $53,322,082.92. The trade was a 4.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,991 shares of company stock worth $11,614,520. 13.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. raised its stake in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares during the period. Stonekeep Investments LLC lifted its position in shares of Toast by 4.0% in the 1st quarter. Stonekeep Investments LLC now owns 7,791 shares of the company’s stock valued at $258,000 after acquiring an additional 297 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Toast by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock valued at $1,408,000 after purchasing an additional 301 shares during the period. Keel Point LLC raised its holdings in shares of Toast by 2.7% during the fourth quarter. Keel Point LLC now owns 12,269 shares of the company’s stock worth $447,000 after acquiring an additional 326 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Toast by 11.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock valued at $125,000 after acquiring an additional 358 shares in the last quarter. Institutional investors and hedge funds 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.