Toast (NYSE:TOST) PT Raised to $25.00 at Piper Sandler

Toast (NYSE:TOST) had its price objective raised by research analysts at Piper Sandler from $20.00 to $25.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential downside of 6.79% from the company’s current price.

Several other equities research analysts also recently commented on TOST. Keefe, Bruyette & Woods upped their target price on shares of Toast from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday. Redburn Atlantic upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, February 7th. Wells Fargo & Company lifted their target price on Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday. Mizuho increased their price target on Toast from $17.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their price objective on Toast from $22.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.80.

Toast Stock Up 13.0 %

NYSE:TOST opened at $26.82 on Thursday. The stock’s fifty day simple moving average is $23.71 and its 200-day simple moving average is $19.57. The firm has a market capitalization of $12.10 billion, a P/E ratio of -52.59 and a beta of 1.77. Toast has a 12-month low of $13.77 and a 12-month high of $27.31.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company’s revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) earnings per share. As a group, equities research analysts expect that Toast will post -0.22 earnings per share for the current year.

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now owns 1,114,454 shares in the company, valued at $26,078,223.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Toast news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now directly owns 1,114,454 shares of the company’s stock, valued at $26,078,223.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the sale, the executive now owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,510 shares of company stock worth $4,381,885. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently bought and sold shares of TOST. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Toast by 28.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 178,947 shares of the company’s stock worth $4,459,000 after acquiring an additional 39,600 shares during the period. Motley Fool Asset Management LLC raised its stake in Toast by 201.4% in the 1st quarter. Motley Fool Asset Management LLC now owns 409,843 shares of the company’s stock valued at $10,213,000 after acquiring an additional 273,879 shares during the period. Motley Fool Wealth Management LLC acquired a new stake in Toast during the 1st quarter valued at $11,762,000. Avantax Advisory Services Inc. bought a new position in Toast during the first quarter worth $355,000. Finally, Qsemble Capital Management LP acquired a new position in shares of Toast in the first quarter valued at $1,763,000. 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.