Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its price target increased by analysts at Keefe, Bruyette & Woods from $40.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 11.46% from the company’s current price.

TOST has been the topic of several other reports. Wedbush upped their price target on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Piper Sandler boosted their price objective on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Royal Bank of Canada raised their target price 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. BMO Capital Markets assumed coverage on shares of Toast in a research report on Monday, January 6th. They issued an “outperform” rating and a $45.00 price target for the company. Finally, Wells Fargo & Company increased their price target on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Toast currently has a consensus rating of “Hold” and an average price target of $40.23.

Toast Stock Performance

Shares of TOST opened at $37.68 on Thursday. The firm’s 50-day simple moving average is $38.60 and its 200 day simple moving average is $33.44. The firm has a market cap of $17.75 billion, a P/E ratio of -3,764.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast has a 52 week low of $20.57 and a 52 week high of $44.12.

Toast (NYSE:TOST) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, equities analysts forecast that Toast will post 0.38 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Toast

Hedge funds have recently added to or reduced their stakes in the business. Makena Capital Management LLC grew its stake in shares of Toast by 7.6% in the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after purchasing an additional 19,371 shares during the last quarter. KBC Group NV raised its position in Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after purchasing an additional 17,106 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after buying an additional 155,212 shares during the period. MML Investors Services LLC grew its position in shares of Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after buying an additional 65,957 shares during the last quarter. Finally, Qsemble Capital Management LP increased its stake in shares of Toast by 52.1% in the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock valued at $1,919,000 after buying an additional 23,231 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.