Mizuho Increases Toast (NYSE:TOST) Price Target to $21.00

Toast (NYSE:TOST) had its price objective boosted by equities research analysts at Mizuho from $17.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price target suggests a potential downside of 21.70% from the stock’s current price.

TOST has been the subject of a number of other research reports. Keefe, Bruyette & Woods upped their target price on shares of Toast from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday. Needham & Company LLC lifted their price objective on Toast from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on shares of Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. 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. Finally, Piper Sandler boosted their target price on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.80.

Toast Stock Up 13.0 %

TOST opened at $26.82 on Thursday. Toast has a twelve month low of $13.77 and a twelve month high of $27.31. The firm has a 50 day moving average price of $23.71 and a 200-day moving average price of $19.57. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of -52.59 and a beta of 1.77.

Toast (NYSE:TOST) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned ($0.16) earnings per share. Toast’s quarterly revenue was up 31.3% compared to the same quarter last year. As a group, analysts expect that Toast will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction dated 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 transaction, the executive now directly owns 22,956 shares in the company, valued at approximately $579,409.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider James Michael Matlock sold 1,205 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 $28,197.00. Following the sale, the insider now owns 40,954 shares of the company’s stock, valued at $958,323.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares in the company, valued at approximately $579,409.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,510 shares of company stock worth $4,381,885. 13.32% of the stock is currently owned by company insiders.

Institutional Trading of Toast

A number of institutional investors have recently modified their holdings of TOST. Sei Investments Co. raised its stake in Toast by 105.0% in the third quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock valued at $12,943,000 after buying an additional 353,903 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Toast by 11.1% during the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock valued at $657,032,000 after acquiring an additional 3,494,579 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Toast by 101.5% in the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock valued at $42,829,000 after purchasing an additional 1,181,409 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Toast by 1,542.9% in the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock worth $1,047,000 after purchasing an additional 53,846 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in Toast during the 3rd quarter worth approximately $936,000. 82.91% of the stock is currently owned by institutional investors.

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.