Toast (NYSE:TOST) PT Lowered to $25.00 at JPMorgan Chase & Co.

Toast (NYSE:TOST) had its price target decreased by JPMorgan Chase & Co. from $26.00 to $25.00 in a report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts have also commented on TOST. Robert W. Baird cut Toast from an outperform rating to a neutral rating and set a $28.00 target price for the company. in a report on Tuesday, May 21st. Baird R W cut shares of Toast from a strong-buy rating to a hold rating in a research note on Tuesday, May 21st. Morgan Stanley increased their target price on shares of Toast from $29.00 to $30.00 and gave the company an overweight rating in a research report on Wednesday. Piper Sandler raised their price target on shares of Toast from $20.00 to $25.00 and gave the stock a neutral rating in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group upped their price objective on shares of Toast from $26.00 to $29.00 and gave the company a buy rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Toast presently has an average rating of Hold and a consensus price target of $28.00.

Toast Stock Up 1.0 %

Shares of TOST stock traded up $0.23 during trading hours on Wednesday, hitting $23.63. 5,099,141 shares of the company’s stock were exchanged, compared to its average volume of 7,924,947. The firm has a 50 day moving average of $24.73 and a two-hundred day moving average of $23.57. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The firm has a market cap of $10.70 billion, a P/E ratio of -47.24 and a beta of 1.76.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.51%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) earnings per share. On average, equities analysts forecast that Toast will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Stephen Fredette sold 1,127 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $27,048.00. Following the transaction, the president now directly owns 2,849,709 shares in the company, valued at approximately $68,393,016. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, President Stephen Fredette sold 1,127 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00. Following the completion of the transaction, the president now directly owns 2,849,709 shares in the company, valued at approximately $68,393,016. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the sale, the executive now owns 26,897 shares in the company, valued at $693,673.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 368,352 shares of company stock valued at $9,381,482. 13.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC acquired a new stake in Toast in the 1st quarter valued at about $179,111,000. Norges Bank acquired a new position in shares of Toast during the fourth quarter worth $76,699,000. Meritage Group LP purchased a new position in Toast in the fourth quarter valued at $70,270,000. Capital International Investors raised its stake in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after buying an additional 3,574,397 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after buying an additional 3,445,788 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

About Toast

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.