Toast (NYSE:TOST) Price Target Raised to $48.00 at Canaccord Genuity Group

Toast (NYSE:TOST) had its price target increased by Canaccord Genuity Group from $43.00 to $48.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on TOST. Compass Point assumed coverage on shares of Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price objective for the company. Oppenheimer initiated coverage on shares of Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price for the company. Wedbush upped their price objective on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler boosted their target price on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Robert W. Baird upped their price objective on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday. One investment 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. According to MarketBeat.com, Toast has a consensus rating of “Hold” and an average price target of $40.09.

Toast Stock Performance

TOST opened at $37.68 on Thursday. The firm has a market capitalization of $17.75 billion, a PE ratio of -3,764.44, a P/E/G ratio of 2.16 and a beta of 1.98. The company has a fifty day moving average price of $38.60 and a two-hundred day moving average price of $33.51. Toast has a 52 week low of $20.57 and a 52 week high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings data 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 company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Equities analysts forecast that Toast will post 0.39 EPS for the current year.

Insider Activity at Toast

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

Institutional Investors Weigh In On Toast

Large investors have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. raised its position in Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 720 shares in the last quarter. Private Advisor Group LLC increased its holdings in Toast by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after purchasing an additional 441 shares during the period. International Assets Investment Management LLC increased its holdings in Toast by 2,731.0% during the 3rd quarter. International Assets Investment Management LLC now owns 95,971 shares of the company’s stock valued at $2,717,000 after purchasing an additional 92,581 shares during the period. Taylor Frigon Capital Management LLC bought a new stake in Toast during the 3rd quarter valued at approximately $1,277,000. Finally, Assenagon Asset Management S.A. boosted its position in Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after acquiring an additional 3,701,893 shares in 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.