Robert W. Baird Increases Toast (NYSE:TOST) Price Target to $28.00

Toast (NYSE:TOST) had its price objective raised by Robert W. Baird from $24.00 to $28.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently commented on TOST. Royal Bank of Canada reaffirmed a sector perform rating and issued a $23.00 price objective on shares of Toast in a research report on Thursday, April 11th. Keefe, Bruyette & Woods assumed coverage on Toast in a research report on Tuesday, April 9th. They issued a market perform rating and a $25.00 price objective on the stock. Redburn Atlantic raised Toast from a neutral rating to a buy rating and set a $28.00 price objective on the stock in a research report on Wednesday, February 7th. BNP Paribas raised Toast from a neutral rating to an outperform rating and set a $30.00 price objective on the stock in a research report on Thursday, March 7th. Finally, UBS Group upped their price objective on Toast from $22.00 to $31.00 and gave the company a buy rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $24.32.

Toast Price Performance

Shares of TOST opened at $22.18 on Monday. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of -43.49 and a beta of 1.79. Toast has a 1 year low of $13.77 and a 1 year high of $27.00. The business’s 50 day simple moving average is $23.03 and its 200-day simple moving average is $19.01.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted ($0.19) EPS. Toast’s quarterly revenue was up 34.7% compared to the same quarter last year. On average, sell-side analysts expect that Toast will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 2,471 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Aman Narang sold 2,471 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elena Gomez sold 15,063 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $352,474.20. Following the transaction, the chief financial officer now owns 187,609 shares in the company, valued at approximately $4,390,050.60. The disclosure for this sale can be found here. Insiders have sold a total of 414,486 shares of company stock worth $8,662,487 in the last quarter. 13.70% of the stock is owned by company insiders.

Institutional Trading of Toast

Hedge funds have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC purchased a new position in Toast in the 1st quarter valued at approximately $37,000. Baystate Wealth Management LLC purchased a new position in Toast in the 3rd quarter valued at approximately $29,000. Principal Securities Inc. purchased a new position in Toast in the 4th quarter valued at approximately $30,000. BluePath Capital Management LLC purchased a new position in Toast in the 3rd quarter valued at approximately $30,000. Finally, Cape Investment Advisory Inc. purchased a new position in Toast in the 4th quarter valued at approximately $31,000. 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.