Piper Sandler Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price objective increased by Piper Sandler from $35.00 to $37.00 in a research report sent to investors on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on TOST. Keefe, Bruyette & Woods upped 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, February 20th. Wolfe Research upgraded Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research note on Wednesday, April 23rd. Evercore ISI initiated coverage on Toast in a report on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their target price on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.91.

Toast Price Performance

NYSE:TOST opened at $40.85 on Friday. The business’s 50-day moving average is $34.56 and its two-hundred day moving average is $36.91. The firm has a market capitalization of $20.32 billion, a PE ratio of -4,080.92, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast has a 12 month low of $21.32 and a 12 month high of $44.12.

Toast (NYSE:TOST) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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%. Equities analysts anticipate that Toast will post 0.39 EPS for the current year.

Insiders Place Their Bets

In related news, Director Christopher P. Comparato sold 70,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the sale, the director now owns 164,796 shares of the company’s stock, valued at $5,884,865.16. This represents a 29.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This represents a 4.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 335,991 shares of company stock valued at $11,614,520 over the last 90 days. 13.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Piscataqua Savings Bank acquired a new position in shares of Toast during the fourth quarter valued at $26,000. Stonebridge Financial Group LLC bought a new position in shares of Toast during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Toast in the 4th quarter worth about $35,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Toast in the 1st quarter worth about $34,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.