Analysts Set Toast, Inc. (NYSE:TOST) Price Target at $45.78

Toast, Inc. (NYSE:TOST) has been assigned an average recommendation of “Moderate Buy” from the twenty-six analysts that are presently covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $45.3478.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. DA Davidson upped their price target on shares of Toast from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Robert W. Baird reduced their price objective on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft started coverage on Toast in a research report on Thursday, July 17th. They set a “buy” rating and a $54.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their price target on Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st.

Insider Transactions at Toast

In other Toast news, Director Paul D. Bell sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the transaction, the director directly owned 226,892 shares in the company, valued at approximately $9,615,682.96. This represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Aman Narang sold 13,652 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $485,465.12. Following the completion of the sale, the chief executive officer directly owned 318,150 shares in the company, valued at approximately $11,313,414. This represents a 4.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,196 shares of company stock worth $2,398,513. 12.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently made changes to their positions in TOST. Jennison Associates LLC lifted its holdings in Toast by 331.0% in the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after buying an additional 6,606,245 shares during the period. Principal Financial Group Inc. raised its position in shares of Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after acquiring an additional 5,436,317 shares in the last quarter. Norges Bank bought a new position in shares of Toast in the 2nd quarter worth about $219,324,000. Marshall Wace LLP grew its stake in Toast by 108.3% during the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after purchasing an additional 4,100,104 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after purchasing an additional 3,490,686 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Performance

Toast stock opened at $35.80 on Tuesday. Toast has a 52 week low of $27.65 and a 52 week high of $49.66. The stock has a market capitalization of $18.26 billion, a P/E ratio of 105.28 and a beta of 1.94. The stock has a fifty day moving average of $40.87 and a 200-day moving average of $40.89.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $0.02 EPS. The business’s revenue was up 24.8% on a year-over-year basis. On average, research analysts forecast that Toast will post 0.39 earnings per share for the current year.

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.