Piper Sandler Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its price target upped by Piper Sandler from $25.00 to $35.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company boosted their target price on Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their target price on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. The Goldman Sachs Group boosted their price target on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.75.

Toast Price Performance

NYSE:TOST opened at $40.36 on Monday. The business’s 50-day simple moving average is $29.08 and its two-hundred day simple moving average is $26.32. Toast has a 52 week low of $13.77 and a 52 week high of $40.65.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. This represents a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kent Bennett sold 100,000 shares of Toast stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total value of $3,667,000.00. Following the completion of the transaction, the director now owns 418,591 shares in the company, valued at $15,349,731.97. This represents a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,575,651 shares of company stock valued at $45,472,212 in the last 90 days. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently bought and sold shares of the company. West Branch Capital LLC purchased a new stake in shares of Toast during the 2nd quarter valued at $26,000. LRI Investments LLC purchased a new stake in Toast in the first quarter valued at about $27,000. Toth Financial Advisory Corp acquired a new position in shares of Toast during the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Toast during the 2nd quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Toast during the 2nd quarter valued at approximately $34,000. 82.91% of the stock is owned by hedge funds and other 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.