DA Davidson Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Key Points

• DA Davidson has raised its price target for Toast (NYSE: TOST) from $40.00 to $46.00, indicating a potential downside of 5.56% from its previous close.
• Despite the neutral rating from DA Davidson, other analysts have given Toast a range of ratings with a consensus target price of $43.42 and a majority rating it as a "Moderate Buy."
• Insiders, including Director Paul D. Bell and CEO Aman Narang, have recently sold shares of Toast, indicating a decrease in insider ownership of 4.57% and 4.37% respectively.

Toast (NYSE:TOST - Get Free Report) had its price objective boosted by stock analysts at DA Davidson from $40.00 to $46.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. DA Davidson's target price would indicate a potential downside of 5.56% from the stock's previous close.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI began coverage on shares of Toast in a report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price target for the company. Barclays restated an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Truist Financial upped their price target on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Citigroup reiterated a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Finally, Piper Sandler increased their target price on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $43.42.

Toast Stock Down 0.4%

TOST stock traded down $0.22 during mid-day trading on Tuesday, reaching $48.71. 4,418,516 shares of the stock traded hands, compared to its average volume of 7,121,203. Toast has a 52 week low of $22.10 and a 52 week high of $49.56. The business has a 50-day moving average of $43.87 and a two-hundred day moving average of $39.37. The firm has a market capitalization of $24.26 billion, a PE ratio of 211.77 and a beta of 2.00.

Insider Activity

In other Toast news, Director Paul D. Bell sold 11,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $45.13, for a total transaction of $496,430.00. Following the completion of the transaction, the director owned 229,680 shares in the company, valued at $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $588,977.11. Following the transaction, the chief executive officer owned 302,498 shares of the company's stock, valued at approximately $12,883,389.82. This represents a 4.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,131 shares of company stock valued at $20,048,851. 13.32% of the stock is owned by company insiders.

Institutional Trading of Toast

Hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Toast during the second quarter worth approximately $31,000. REAP Financial Group LLC increased its holdings in shares of Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company's stock worth $35,000 after buying an additional 506 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Toast during the first quarter worth approximately $34,000. Piscataqua Savings Bank increased its holdings in shares of Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares in the last quarter. Finally, West Branch Capital LLC increased its holdings in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds 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.

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