DA Davidson Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its target price lifted by DA Davidson from $40.00 to $46.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on TOST. Evercore ISI began coverage on shares of Toast in a research note on Wednesday, April 9th. They set an “in-line” rating and a $29.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 price objective on the stock. The Goldman Sachs Group cut their price objective on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Jefferies Financial Group raised their price target on shares of Toast from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Finally, Morgan Stanley raised their price target on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.42.

Toast Stock Down 0.7%

NYSE:TOST opened at $48.59 on Tuesday. Toast has a 52 week low of $22.10 and a 52 week high of $49.56. The firm has a 50 day moving average of $43.95 and a 200 day moving average of $39.44. The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of 211.24 and a beta of 2.00.

Insider Transactions at Toast

In related news, CEO Aman Narang sold 13,829 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the completion of the transaction, the chief executive officer owned 302,498 shares in the company, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the completion of the transaction, the director owned 187,140 shares of the company’s stock, valued at $8,372,643.60. This represents a 27.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 466,131 shares of company stock valued at $20,048,851. 13.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TOST. Ameritas Advisory Services LLC acquired a new position in shares of Toast in the 2nd quarter valued at $31,000. Wayfinding Financial LLC acquired a new position in shares of Toast in the 1st quarter valued at $34,000. REAP Financial Group LLC boosted its holdings in shares of Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after buying an additional 506 shares in the last quarter. Piscataqua Savings Bank raised its position in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. Finally, West Branch Capital LLC raised its position in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other 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.