BMO Capital Markets Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price target upped by BMO Capital Markets from $46.00 to $48.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. DA Davidson reiterated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Compass Point assumed coverage on shares of Toast in a research note on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, Robert W. Baird raised their target price on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday. One equities research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.23.

Toast Price Performance

Shares of TOST stock opened at $40.45 on Thursday. The company’s fifty day simple moving average is $38.60 and its 200-day simple moving average is $33.35. Toast has a 52 week low of $20.49 and a 52 week high of $44.12.

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

Insider Buying and Selling at Toast

In related news, CFO Elena Gomez sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the sale, the chief financial officer now owns 160,498 shares of the company’s stock, valued at approximately $6,360,535.74. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 1,006 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $39,867.78. Following the transaction, the executive now owns 48,488 shares of the company’s stock, valued at $1,921,579.44. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,564 shares of company stock worth $13,577,845 over the last 90 days. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of hedge funds have recently added to or reduced their stakes in TOST. ValueAct Holdings L.P. bought a new position in shares of Toast during the third quarter worth about $438,301,000. FMR LLC boosted its stake in Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Toast in the 4th quarter worth about $282,010,000. Norges Bank acquired a new stake in shares of Toast in the fourth quarter valued at approximately $205,888,000. Finally, Vanguard Group Inc. raised its holdings in shares of Toast by 10.8% during 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 last quarter. 82.91% of the stock is currently owned by institutional investors.

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.