Toast (NYSE:TOST) Given New $48.00 Price Target at Canaccord Genuity Group

Toast (NYSE:TOST) had its price target increased by stock analysts at Canaccord Genuity Group from $43.00 to $48.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 25.10% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price target on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Toast in a report on Thursday. Compass Point began coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, BMO Capital Markets upped their price target on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.00.

Toast Trading Down 4.0 %

TOST traded down $1.61 during trading on Thursday, reaching $38.37. The stock had a trading volume of 6,234,783 shares, compared to its average volume of 5,731,473. Toast has a one year low of $20.49 and a one year high of $44.12. The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of -296.66, a P/E/G ratio of 2.27 and a beta of 1.98. The stock’s 50 day moving average is $38.59 and its two-hundred day moving average is $33.30.

Toast (NYSE:TOST) last announced its quarterly earnings data 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 analysts’ expectations of $1.32 billion. On average, equities research analysts predict that Toast will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Toast

In related news, Director David Yuan sold 189,785 shares of the company’s stock in a transaction 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 transaction, the director now owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $42,324.84. Following the completion of the sale, 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. Over the last quarter, insiders sold 339,564 shares of company stock valued at $13,577,845. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank purchased a new stake in Toast during the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Toast during the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Toast in the fourth quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Toast during the fourth quarter worth $40,000. 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.