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

Toast (NYSE:TOST) had its price objective increased by analysts at BMO Capital Markets from $46.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 23.37% from the company’s current price.

TOST has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Piper Sandler raised their price objective on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Royal Bank of Canada raised their price objective on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods raised their price objective on shares of Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.09.

Toast Trading Down 2.7 %

TOST traded down $1.07 on Thursday, reaching $38.91. The company had a trading volume of 2,792,197 shares, compared to its average volume of 5,625,013. The company has a fifty day moving average of $38.59 and a 200-day moving average of $33.30. The company has a market capitalization of $18.33 billion, a P/E ratio of -299.81, a PEG ratio of 2.27 and a beta of 1.98. Toast has a one year low of $20.49 and a one year high of $44.12.

Toast (NYSE:TOST) last announced 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 negative net margin of 1.05% and a negative return on equity of 3.84%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Research analysts predict that Toast will post 0.03 EPS for the current year.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 1,068 shares of the firm’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 transaction of $42,324.84. Following the transaction, the president now owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan Vassil sold 1,006 shares of the firm’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 transaction of $39,867.78. Following the transaction, the executive now directly owns 48,488 shares in the company, valued at approximately $1,921,579.44. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 339,564 shares of company stock valued at $13,577,845 over the last three months. 13.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. Raleigh Capital Management Inc. raised its position in Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after acquiring an additional 720 shares in the last quarter. Private Advisor Group LLC raised its position in Toast by 1.6% during the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after acquiring an additional 441 shares in the last quarter. International Assets Investment Management LLC raised its position in Toast by 2,731.0% during the third quarter. International Assets Investment Management LLC now owns 95,971 shares of the company’s stock valued at $2,717,000 after acquiring an additional 92,581 shares in the last quarter. Taylor Frigon Capital Management LLC bought a new position in Toast during the third quarter valued at approximately $1,277,000. Finally, Assenagon Asset Management S.A. raised its position in Toast by 2,889.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after acquiring an additional 3,701,893 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.