Toast (NYSE:TOST) Given New $48.00 Price Target at BMO Capital Markets

Toast (NYSE:TOST) had its price objective raised by BMO Capital Markets from $46.00 to $48.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley increased their price objective on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday. Robert W. Baird boosted their price objective on shares of Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday. DA Davidson restated a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. JPMorgan Chase & Co. lifted their target price on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Piper Sandler upped their price target on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.09.

Toast Price Performance

Shares of NYSE TOST opened at $37.68 on Thursday. Toast has a 1 year low of $20.57 and a 1 year high of $44.12. The company’s 50-day moving average is $38.60 and its 200 day moving average is $33.51. The stock has a market capitalization of $17.75 billion, a P/E ratio of -3,764.44, a P/E/G ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share 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 analysts’ expectations of $1.32 billion. Research analysts anticipate that Toast will post 0.39 earnings per share for the current year.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the transaction, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 1,006 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $39,867.78. Following the sale, the executive now owns 48,488 shares of the company’s stock, valued at approximately $1,921,579.44. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 339,564 shares of company stock worth $13,577,845 over the last three months. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

A number of institutional investors and hedge funds have recently made changes to their positions in TOST. Vanguard Group Inc. increased its holdings in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. Capital International Investors grew its position in shares of Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock valued at $1,529,657,000 after acquiring an additional 785,641 shares during the period. FMR LLC increased its stake in shares of Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares in the last quarter. ValueAct Holdings L.P. bought a new position in Toast in the 3rd quarter worth $438,301,000. Finally, State Street Corp lifted its position in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after purchasing an additional 206,789 shares in the last quarter. Hedge funds and other 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.