Toast (NYSE:TOST – Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $50.00 to $42.00 in a research report report published on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.
Several other research firms also recently weighed in on TOST. Needham & Company LLC lifted their target price on Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group lifted their price objective on Toast from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Morgan Stanley lifted their price objective on Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Canaccord Genuity Group lifted their price objective on Toast from $48.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Truist Financial lifted their price objective on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Fifteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.30.
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Toast Trading Down 2.4%
NYSE:TOST opened at $35.65 on Wednesday. Toast has a twelve month low of $26.91 and a twelve month high of $49.66. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 104.85 and a beta of 1.94. The stock has a fifty day simple moving average of $42.81 and a 200-day simple moving average of $40.75.
Toast (NYSE:TOST – Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities research analysts predict that Toast will post 0.39 EPS for the current fiscal year.
Insider Buying and Selling at Toast
In other Toast news, CRO Jonathan Vassil sold 1,427 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $69,038.26. Following the completion of the sale, the executive directly owned 63,298 shares of the company’s stock, valued at approximately $3,062,357.24. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,720 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $83,213.60. Following the sale, the president directly owned 890,818 shares of the company’s stock, valued at approximately $43,097,774.84. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,423 shares of company stock valued at $913,065. 12.14% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Toast
Several hedge funds have recently modified their holdings of TOST. Jennison Associates LLC increased its holdings in shares of Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after acquiring an additional 6,606,245 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after acquiring an additional 5,436,317 shares in the last quarter. Norges Bank acquired a new position in shares of Toast during the second quarter valued at about $219,324,000. Marshall Wace LLP increased its holdings in shares of Toast by 108.3% during the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock valued at $349,333,000 after acquiring an additional 4,100,104 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after acquiring an additional 3,490,686 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.
About Toast
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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.
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