Toast (NYSE:TOST) PT Raised to $33.00

Toast (NYSE:TOST) had its price objective upped by analysts at Morgan Stanley from $30.00 to $33.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 12.82% from the stock’s previous close.

Several other analysts have also issued reports on TOST. Wedbush upgraded Toast to a “strong-buy” rating in a research note on Friday, September 6th. Robert W. Baird upped their price objective on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Stephens lifted their target price on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. Finally, Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.94.

Toast Stock Performance

TOST opened at $29.25 on Tuesday. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $30.70. The firm has a 50-day moving average of $26.55 and a 200 day moving average of $25.29. The firm has a market cap of $13.25 billion, a P/E ratio of -58.50 and a beta of 1.76.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) EPS. Equities research analysts predict that Toast will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other news, CRO Jonathan Vassil sold 1,541 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $36,984.00. Following the transaction, the executive now owns 33,312 shares of the company’s stock, valued at $799,488. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CRO Jonathan Vassil sold 1,541 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $36,984.00. Following the transaction, the executive now directly owns 33,312 shares in the company, valued at approximately $799,488. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aman Narang sold 1,856 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $44,544.00. Following the transaction, the chief executive officer now directly owns 1,132,708 shares in the company, valued at approximately $27,184,992. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,387,269 shares of company stock worth $38,394,140 over the last three months. 13.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after purchasing an additional 421 shares during the last quarter. Park Avenue Securities LLC raised its stake in Toast by 1.0% in the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after buying an additional 436 shares in the last quarter. Private Advisor Group LLC raised its stake in Toast by 1.6% in the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after buying an additional 441 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in Toast by 3.1% in the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after buying an additional 500 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Toast by 8.4% in the second quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock worth $174,000 after buying an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Company Profile

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.