Toast (NYSE:TOST) PT Raised to $28.00 at Canaccord Genuity Group

Toast (NYSE:TOST) had its target price raised by analysts at Canaccord Genuity Group from $22.00 to $28.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 3.86% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of Toast from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on shares of Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday. Piper Sandler lifted their price target on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $23.00 price objective on shares of Toast in a research report on Thursday, April 11th. Finally, Evercore ISI began coverage on Toast in a research report on Monday, March 4th. They issued an “outperform” rating and a $32.00 target price on the stock. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.15.

Toast Price Performance

Shares of NYSE TOST traded up $3.23 during midday trading on Wednesday, reaching $26.96. 17,262,937 shares of the stock were exchanged, compared to its average volume of 8,113,715. Toast has a 12 month low of $13.77 and a 12 month high of $27.31. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of -51.53 and a beta of 1.77. The business has a 50-day simple moving average of $23.63 and a two-hundred day simple moving average of $19.52.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. Equities research analysts expect that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Aman Narang sold 2,471 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the sale, the chief executive officer now directly owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Toast news, insider James Michael Matlock sold 4,151 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $23.19, for a total value of $96,261.69. Following the transaction, the insider now directly owns 46,510 shares in the company, valued at $1,078,566.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 2,471 shares of the firm’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 of the company’s stock, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Insiders sold a total of 180,510 shares of company stock valued at $4,381,885 in the last quarter. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC acquired a new stake in shares of Toast during the first quarter worth $37,000. Principal Securities Inc. bought a new position in Toast during the fourth quarter worth about $30,000. Cape Investment Advisory Inc. acquired a new stake in Toast in the 4th quarter worth about $31,000. SRS Capital Advisors Inc. acquired a new stake in Toast in the 3rd quarter worth about $33,000. Finally, Larson Financial Group LLC boosted its holdings in Toast by 8,181.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after purchasing an additional 1,800 shares during the period. 82.91% of the stock is owned by institutional investors.

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.