Toast (NYSE:TOST) Given New $35.00 Price Target at DA Davidson

Toast (NYSE:TOST) had its price target increased by DA Davidson from $32.00 to $35.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 16.36% from the company’s previous close.

Several other equities analysts have also recently weighed in on TOST. JPMorgan Chase & Co. raised their price objective on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Wedbush upgraded Toast to a “strong-buy” rating in a research note on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Stephens lifted their target price on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Robert W. Baird lifted their target price on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.26.

Toast Price Performance

Shares of NYSE:TOST traded down $0.04 during trading on Tuesday, reaching $30.08. 1,724,127 shares of the stock were exchanged, compared to its average volume of 7,098,358. Toast has a 1-year low of $13.77 and a 1-year high of $30.78. The stock has a fifty day moving average of $26.86 and a two-hundred day moving average of $25.44. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of -104.00 and a beta of 1.76.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business earned ($0.19) EPS. The business’s revenue was up 27.0% on a year-over-year basis. Sell-side analysts forecast that Toast will post -0.1 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the sale, the general counsel now owns 177,836 shares in the company, valued at $5,404,436.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the sale, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,127 shares of the business’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 completion of the sale, the president now owns 2,849,709 shares of the company’s stock, valued at $68,393,016. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,387,269 shares of company stock worth $38,394,140 in the last quarter. 13.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. West Branch Capital LLC bought a new position in shares of Toast during the second quarter valued at $26,000. LRI Investments LLC bought a new position in shares of Toast in the first quarter worth about $27,000. Toth Financial Advisory Corp bought a new position in shares of Toast in the third quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Toast in the second quarter worth about $33,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Toast in the second quarter worth about $34,000. 82.91% of the stock is 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.