Toast (NYSE:TOST) Price Target Raised to $28.00 at Bank of America

Toast (NYSE:TOST) had its target price lifted by Bank of America from $26.00 to $28.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on TOST. The Goldman Sachs Group restated a buy rating and set a $29.00 target price on shares of Toast in a report on Thursday, September 12th. Wedbush upgraded Toast to a strong-buy rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their target price on Toast from $25.00 to $28.00 and gave the company a neutral rating in a report on Tuesday, August 20th. Needham & Company LLC restated a buy rating and set a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $28.33.

Toast Stock Performance

Shares of TOST stock opened at $26.75 on Tuesday. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The stock has a 50 day moving average price of $24.93 and a two-hundred day moving average price of $24.53. The company has a market capitalization of $12.12 billion, a P/E ratio of -53.50 and a beta of 1.75.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The business’s revenue was up 27.0% on a year-over-year basis. As a group, equities analysts predict that Toast will post -0.1 earnings per share for the current year.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 101,574 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the sale, the president now directly owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Christopher P. Comparato sold 100,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the sale, the director now directly owns 120,107 shares of the company’s stock, valued at $2,924,605.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Fredette sold 101,574 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the sale, the president now directly owns 2,395,685 shares in the company, valued at $61,640,975.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 651,612 shares of company stock valued at $16,191,520. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TOST. Principal Securities Inc. bought a new position in shares of Toast in the fourth quarter worth about $30,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Toast by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after buying an additional 774 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Toast by 8,092.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock valued at $1,267,000 after purchasing an additional 68,539 shares during the period. Norges Bank bought a new stake in Toast during the 4th quarter valued at approximately $76,699,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in Toast by 65.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 47,523 shares of the company’s stock valued at $868,000 after purchasing an additional 18,808 shares during the period. 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.