Toast (NYSE:TOST) Price Target Increased to $33.00 by Analysts at Morgan Stanley

Toast (NYSE:TOST) had its target price lifted by research analysts at Morgan Stanley from $30.00 to $33.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 11.98% from the stock’s previous close.

A number of other research firms have also issued reports on TOST. Bank of America raised their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group raised their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. 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 research note on Thursday, July 18th. Robert W. Baird lifted their price target on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $28.94.

Toast Stock Down 0.2 %

Shares of Toast stock traded down $0.05 during midday trading on Tuesday, hitting $29.47. The company had a trading volume of 1,295,083 shares, compared to its average volume of 7,139,880. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of -58.88 and a beta of 1.76. The company has a fifty day simple moving average of $26.37 and a 200 day simple moving average of $25.22. Toast has a 12-month low of $13.77 and a 12-month high of $30.70.

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

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 1,127 shares of Toast stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $27,048.00. Following the completion of the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at $68,393,016. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Toast news, President Stephen Fredette sold 1,127 shares of Toast stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $27,048.00. Following the completion of the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at $68,393,016. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elena Gomez sold 2,162 shares of Toast stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $51,888.00. Following the completion of the transaction, the chief financial officer now directly owns 183,931 shares of the company’s stock, valued at approximately $4,414,344. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,006,021 shares of company stock worth $26,808,638. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC boosted its holdings in Toast by 1.6% in the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after purchasing an additional 441 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 720 shares during the last quarter. 1858 Wealth Management LLC purchased a new stake in shares of Toast during the third quarter worth approximately $209,000. Toth Financial Advisory Corp purchased a new stake in shares of Toast during the third quarter worth approximately $28,000. Finally, Penn Davis Mcfarland Inc. purchased a new position in Toast in the third quarter worth $212,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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.