Toast (NYSE:TOST) Price Target Raised to $50.00

Toast (NYSE:TOST) had its target price hoisted by Morgan Stanley from $46.00 to $50.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on TOST. Robert W. Baird boosted their target price on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Royal Bank of Canada lifted their price target on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. Oppenheimer assumed coverage on shares of Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price on the stock. Finally, UBS Group upped their price target on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and an average price target of $40.91.

Toast Trading Up 11.5%

Shares of NYSE TOST opened at $40.85 on Friday. The stock’s 50-day moving average is $34.56 and its 200 day moving average is $36.91. The stock has a market cap of $20.32 billion, a price-to-earnings ratio of -4,080.92, a P/E/G ratio of 2.16 and a beta of 1.98. Toast has a 1-year low of $21.32 and a 1-year high of $44.12.

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

Insiders Place Their Bets

In other news, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the sale, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. The trade was a 72.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Stephen Fredette sold 70,340 shares of the company’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,991 shares of company stock worth $11,614,520 over the last three months. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of institutional investors and hedge funds have recently made changes to their positions in TOST. Charles Schwab Investment Management Inc. boosted its position in shares of Toast by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after purchasing an additional 153,723 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in Toast in the first quarter worth $497,000. Vanguard Group Inc. grew its stake in shares of Toast by 3.5% in the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock worth $1,457,675,000 after acquiring an additional 1,471,352 shares during the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Toast by 24.6% during the first quarter. iA Global Asset Management Inc. now owns 17,866 shares of the company’s stock valued at $593,000 after acquiring an additional 3,522 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Toast in the 1st quarter worth about $7,628,000. 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.