Toast (NYSE:TOST) Price Target Raised to $48.00 at Canaccord Genuity Group

Toast (NYSE:TOST) had its price target raised by Canaccord Genuity Group from $43.00 to $48.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also commented on TOST. Royal Bank of Canada boosted their price target on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Toast in a research note on Thursday. UBS Group upped their price objective on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday. Compass Point initiated coverage on shares of Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus price target of $40.23.

Toast Price Performance

Shares of TOST opened at $40.45 on Thursday. Toast has a 12-month low of $20.49 and a 12-month high of $44.12. The firm has a fifty day moving average price of $38.60 and a 200-day moving average price of $33.35.

Toast (NYSE:TOST) last posted its quarterly 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 company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. On average, sell-side analysts anticipate that Toast will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In related news, General Counsel Brian R. Elworthy sold 653 shares of the business’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 $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 339,564 shares of company stock worth $13,577,845 over the last three months. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank acquired a new position in shares of Toast in the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new position in shares of Toast during the fourth quarter worth $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Toast in the fourth quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Toast during the 4th quarter worth approximately $40,000. Institutional investors 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.