Morgan Stanley Lowers Toast (NYSE:TOST) Price Target to $46.00

Toast (NYSE:TOST) had its price objective lowered by research analysts at Morgan Stanley from $50.00 to $46.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 34.10% from the stock’s previous close.

TOST has been the topic of a number of other reports. BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. UBS Group increased their price target on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. BMO Capital Markets boosted their price objective on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Royal Bank of Canada increased their target price on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their target price on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.09.

Toast Stock Performance

NYSE TOST opened at $34.30 on Wednesday. The business’s 50 day moving average price is $35.69 and its 200-day moving average price is $36.00. Toast has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The company has a market cap of $16.95 billion, a P/E ratio of -3,426.97, a P/E/G ratio of 2.16 and a beta of 2.00.

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

Insider Transactions at Toast

In other news, Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the sale, the director now directly owns 164,796 shares in the company, valued at approximately $5,884,865.16. This trade represents a 29.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 270,770 shares of company stock valued at $9,409,211. Corporate insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of institutional investors have recently made changes to their positions in TOST. Blue Trust Inc. raised its stake in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares during the last quarter. Piscataqua Savings Bank purchased a new stake in Toast during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new position in Toast during the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Toast in the fourth quarter worth $35,000. Finally, West Branch Capital LLC lifted its stake in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds 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.