Morgan Stanley Boosts Toast (NYSE:TOST) Price Target to $50.00

Toast (NYSE:TOST) had its price target hoisted by equities researchers at Morgan Stanley from $46.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 24.68% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Wedbush increased their price target on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Compass Point started coverage on Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 target price on the stock. Robert W. Baird boosted their target price on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. DA Davidson reiterated a “neutral” rating and issued a $38.00 price target (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Finally, BNP Paribas lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Toast has an average rating of “Hold” and a consensus price target of $37.86.

Toast Stock Down 4.3 %

Shares of TOST stock opened at $40.10 on Thursday. The firm has a market cap of $18.89 billion, a price-to-earnings ratio of -308.48, a PEG ratio of 2.27 and a beta of 1.98. Toast has a 12 month low of $20.49 and a 12 month high of $44.12. The stock has a 50-day moving average price of $38.59 and a 200 day moving average price of $33.30.

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 negative return on equity of 3.84% and a negative net margin of 1.05%. Sell-side analysts predict that Toast will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,564 shares of company stock valued at $13,577,845 in the last quarter. 13.32% of the stock is currently owned by insiders.

Institutional Trading of Toast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its stake in Toast by 10.8% in the fourth quarter. Toronto Dominion Bank now owns 51,300 shares of the company’s stock valued at $1,870,000 after purchasing an additional 4,981 shares in the last quarter. Neo Ivy Capital Management grew its stake in shares of Toast by 104.9% in the fourth quarter. Neo Ivy Capital Management now owns 91,554 shares of the company’s stock valued at $3,337,000 after buying an additional 46,878 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in Toast during the fourth quarter worth $380,000. Pinkerton Retirement Specialists LLC acquired a new stake in Toast in the fourth quarter valued at $224,000. Finally, Orion Capital Management LLC bought a new position in shares of Toast in the 4th quarter valued at about $128,000. 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.