Toast (NYSE:TOST) Given New $50.00 Price Target at Morgan Stanley

Toast (NYSE:TOST) had its target price upped by Morgan Stanley from $46.00 to $50.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently issued reports on the company. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Toast in a report on Thursday. BMO Capital Markets began coverage on Toast in a research note on Monday, January 6th. They issued an “outperform” rating and a $45.00 price target for the company. Royal Bank of Canada upped their target price on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their target price on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.09.

Toast Price Performance

TOST stock opened at $37.68 on Thursday. Toast has a 1-year low of $20.57 and a 1-year high of $44.12. The firm has a fifty day moving average price of $38.60 and a two-hundred day moving average price of $33.51. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of -3,764.44, a PEG ratio of 2.16 and a beta of 1.98.

Toast (NYSE:TOST) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) 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 net margin of 0.40% and a return on equity of 1.54%. As a group, analysts expect that Toast will post 0.39 EPS for the current fiscal year.

Insider Transactions at Toast

In related news, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the transaction, the director now owns 182,451 shares in the company, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the transaction, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,564 shares of company stock worth $13,577,845. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. ValueAct Holdings L.P. bought a new position in Toast during the third quarter worth about $438,301,000. FMR LLC raised its position in Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after buying an additional 8,205,053 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Toast in the 4th quarter valued at approximately $282,010,000. Norges Bank acquired a new position in shares of Toast during the 4th quarter worth approximately $205,888,000. Finally, Vanguard Group Inc. increased its position in shares of Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the last quarter. 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.