Toast (NYSE:TOST) Given New $48.00 Price Target at BMO Capital Markets

Toast (NYSE:TOST) had its target price increased by BMO Capital Markets from $46.00 to $48.00 in a report issued on Thursday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other analysts have also commented on TOST. Piper Sandler increased their target price on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Robert W. Baird increased their price objective on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday. Wedbush raised their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group cut their target price on Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.23.

Toast Price Performance

TOST opened at $40.45 on Thursday. The stock’s fifty day moving average is $38.60 and its 200-day moving average is $33.35. Toast has a one year low of $20.49 and a one year high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities research analysts predict that Toast will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In other Toast news, Director David Yuan sold 189,785 shares of Toast stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 339,564 shares of company stock worth $13,577,845 in the last ninety days. Corporate insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. ValueAct Holdings L.P. acquired a new stake in shares of Toast in the third quarter worth $438,301,000. FMR LLC grew its position in Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Toast during the 4th quarter worth about $282,010,000. Norges Bank acquired a new position in shares of Toast during the fourth quarter valued at about $205,888,000. Finally, Vanguard Group Inc. lifted its stake in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.