Toast (NYSE:TOST) Price Target Increased to $27.00 by Analysts at Royal Bank of Canada

Toast (NYSE:TOST) had its price target hoisted by Royal Bank of Canada from $23.00 to $27.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities research analysts have also commented on TOST. Needham & Company LLC increased their price objective on shares of Toast from $26.00 to $30.00 and gave the company a buy rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on shares of Toast from $26.00 to $29.00 and gave the company a buy rating in a research note on Monday, April 15th. BNP Paribas upgraded shares of Toast from a neutral rating to an outperform rating and set a $30.00 price objective for the company in a research note on Thursday, March 7th. 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 note on Wednesday, February 7th. Finally, Robert W. Baird increased their price objective on shares of Toast from $24.00 to $28.00 and gave the company an outperform rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Toast has a consensus rating of Hold and a consensus target price of $25.80.

Toast Price Performance

Shares of TOST remained flat at $26.82 on Wednesday. 15,196,707 shares of the company were exchanged, compared to its average volume of 8,284,737. Toast has a 12 month low of $13.77 and a 12 month high of $27.57. The firm has a market cap of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77. The company has a fifty day moving average of $23.71 and a two-hundred day moving average of $19.57.

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

Insider Buying and Selling

In related news, President Stephen Fredette sold 2,272 shares of the firm’s 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 completion of the transaction, the president now directly owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Toast news, President Stephen Fredette sold 2,272 shares of the 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 sale, the president now directly owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the sale, the executive now owns 25,422 shares in the company, valued at $582,163.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,010 shares of company stock valued at $4,711,760. Company insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently made changes to their positions in TOST. Principal Securities Inc. purchased a new stake in shares of Toast during the 4th quarter valued at $30,000. Cape Investment Advisory Inc. purchased a new position in Toast in the 4th quarter worth $31,000. SRS Capital Advisors Inc. purchased a new position in Toast in the 3rd quarter worth $33,000. Larson Financial Group LLC raised its position in Toast by 8,181.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock worth $34,000 after purchasing an additional 1,800 shares during the period. Finally, Spire Wealth Management raised its position in Toast by 481.6% in the 3rd quarter. Spire Wealth Management now owns 1,838 shares of the company’s stock worth $34,000 after purchasing an additional 1,522 shares during the period. Hedge funds and other 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.