Toast (NYSE:TOST) Price Target Raised to $26.00 at Keefe, Bruyette & Woods

Toast (NYSE:TOST) had its target price hoisted by Keefe, Bruyette & Woods from $25.00 to $26.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other research firms have also recently weighed in on TOST. Evercore ISI started coverage on Toast in a report on Monday, March 4th. They set an outperform rating and a $32.00 price objective on the stock. Mizuho reiterated a neutral rating and issued a $17.00 price target on shares of Toast in a report on Wednesday, March 27th. Robert W. Baird raised their price objective on shares of Toast from $24.00 to $28.00 and gave the stock an outperform rating in a report on Monday, April 15th. Wells Fargo & Company upped their target price on shares of Toast from $15.00 to $17.00 and gave the stock an underweight rating in a research note on Friday, April 12th. Finally, Redburn Atlantic raised Toast from a neutral rating to a buy rating and set a $28.00 price target on the stock in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $25.35.

Toast Price Performance

Shares of NYSE:TOST opened at $26.82 on Wednesday. The company has a 50 day moving average of $23.71 and a 200-day moving average of $19.57. Toast has a one year low of $13.77 and a one year high of $27.31. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -52.59 and a beta of 1.77.

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

Insider Activity

In related news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares in the company, valued at $579,409.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the transaction, the president now directly owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The sale 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 company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total value of $2,524,000.00. Following the sale, the executive now owns 22,956 shares of the company’s stock, valued at $579,409.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,510 shares of company stock valued at $4,381,885. 13.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently modified their holdings of TOST. Vanguard Group Inc. lifted its holdings in Toast by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock worth $669,729,000 after buying an additional 1,598,248 shares during the period. Capital International Investors lifted its stake in shares of Toast by 9.1% in the fourth quarter. Capital International Investors now owns 29,349,685 shares of the company’s stock worth $535,925,000 after acquiring an additional 2,449,778 shares during the period. HMI Capital Management L.P. boosted its holdings in Toast by 5.6% in the fourth quarter. HMI Capital Management L.P. now owns 15,189,265 shares of the company’s stock valued at $277,356,000 after acquiring an additional 808,244 shares during the last quarter. Morgan Stanley increased its position in Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after purchasing an additional 7,191,595 shares during the period. Finally, Abdiel Capital Advisors LP raised its holdings in Toast by 0.3% during the 4th quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock worth $199,280,000 after purchasing an additional 37,091 shares during the last quarter. Institutional investors and hedge funds 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.