Royal Bank of Canada Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price objective hoisted by Royal Bank of Canada from $27.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 7.61% from the company’s previous close.

A number of other research analysts have also recently commented on TOST. Wedbush boosted their price target on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. Stephens lifted their price target on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. Bank of America raised their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.80.

Toast Trading Up 13.8 %

TOST stock traded up $4.50 on Friday, hitting $37.17. The company had a trading volume of 18,973,490 shares, compared to its average volume of 7,171,591. Toast has a 12-month low of $13.77 and a 12-month high of $38.40. The stock’s 50-day simple moving average is $27.94 and its 200 day simple moving average is $25.86. The stock has a market cap of $17.14 billion, a price-to-earnings ratio of -128.72 and a beta of 1.74.

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

Insider Activity at Toast

In other Toast news, Director Christopher P. Comparato sold 100,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total value of $2,435,000.00. Following the completion of the sale, the director now owns 120,107 shares in the company, valued at approximately $2,924,605.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Christopher P. Comparato sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total value of $2,435,000.00. Following the completion of the sale, the director now owns 120,107 shares of the company’s stock, valued at $2,924,605.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the transaction, the executive now owns 39,834 shares of the company’s stock, valued at $1,238,040.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,375,651 shares of company stock worth $38,150,212 over the last quarter. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently made changes to their positions in TOST. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Toast in the third quarter valued at $257,000. Fifth Third Wealth Advisors LLC purchased a new stake in Toast during the third quarter worth about $1,912,000. Quest Partners LLC acquired a new stake in shares of Toast during the third quarter worth about $1,391,000. Swiss National Bank grew its holdings in shares of Toast by 3.9% in the third quarter. Swiss National Bank now owns 1,075,600 shares of the company’s stock valued at $30,450,000 after purchasing an additional 40,600 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in Toast by 43.9% during the 3rd quarter. Natixis Advisors LLC now owns 82,259 shares of the company’s stock worth $2,329,000 after buying an additional 25,113 shares in the last quarter. 82.91% of the stock is currently 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.