Toast (NYSE:TOST) Given New $42.00 Price Target at Keefe, Bruyette & Woods

Toast (NYSE:TOST) had its target price boosted by Keefe, Bruyette & Woods from $40.00 to $42.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada upped their price objective on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. BMO Capital Markets began coverage on Toast in a research report on Monday, January 6th. They issued an “outperform” rating and a $45.00 price objective on the stock. Wells Fargo & Company upped their price objective on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wedbush increased their price target on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Compass Point initiated coverage on Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Toast currently has a consensus rating of “Hold” and an average target price of $40.23.

Toast Stock Up 1.2 %

Shares of Toast stock opened at $40.45 on Thursday. The stock’s fifty day moving average is $38.60 and its two-hundred day 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 data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate 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 predict that Toast will post 0.38 EPS for the current year.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Yuan sold 189,785 shares of the stock in a transaction dated 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 sale, the director now owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 339,564 shares of company stock worth $13,577,845. 13.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Capital International Investors increased its holdings in shares of Toast by 1.9% in the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock valued at $1,529,657,000 after purchasing an additional 785,641 shares during the period. FMR LLC increased its holdings in shares of Toast by 22.1% in the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. ValueAct Holdings L.P. acquired a new position in shares of Toast in the third quarter valued at about $438,301,000. Finally, State Street Corp increased its holdings in shares of Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after purchasing an additional 206,789 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.