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

Toast (NYSE:TOST) had its price objective hoisted by equities researchers at Royal Bank of Canada from $40.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 17.20% from the stock’s current price.

TOST has been the subject of a number of other reports. The Goldman Sachs Group lowered their price target on Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Canaccord Genuity Group lifted their price objective on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler boosted their price target on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Oppenheimer started coverage on shares of Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective for the company. Finally, Robert W. Baird upped their price target on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus target price of $40.23.

Toast Stock Down 4.0 %

NYSE:TOST traded down $1.59 on Thursday, reaching $38.40. 7,503,625 shares of the company’s stock traded hands, compared to its average volume of 5,776,683. The stock has a 50-day simple moving average of $38.59 and a 200-day simple moving average of $33.30. Toast has a 12 month low of $20.49 and a 12 month high of $44.12. The firm has a market cap of $18.08 billion, a PE ratio of -293.87, a P/E/G ratio of 2.27 and a beta of 1.98.

Toast (NYSE:TOST) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. On average, equities analysts anticipate that Toast will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 1,068 shares of the firm’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 $42,324.84. Following the sale, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the 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 completion of the transaction, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 339,564 shares of company stock valued at $13,577,845 in the last quarter. Corporate insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several institutional investors have recently modified their holdings of TOST. Blue Trust Inc. grew its position in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares during the last quarter. Piscataqua Savings Bank acquired a new stake in shares of Toast in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new position in Toast during the fourth quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new position in Toast during the fourth quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Toast in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors 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.