Keefe, Bruyette & Woods Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Key Points

• Keefe, Bruyette & Woods has raised its price target for Toast (NYSE: TOST) stock from $47.00 to $50.00, indicating a potential upside of 4.58% from its previous close.
• Twelve analysts have rated Toast stock, resulting in an average rating of "Moderate Buy" with a consensus price target of $44.33.
• Toast reported quarterly earnings of $0.13 per share, missing estimates and showing a 24.8% increase in revenue year-over-year.

Toast (NYSE:TOST - Get Free Report) had its target price increased by research analysts at Keefe, Bruyette & Woods from $47.00 to $50.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 4.58% from the company's previous close.

TOST has been the subject of several other reports. Evercore ISI initiated coverage on shares of Toast in a report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective for the company. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a research report on Wednesday, April 23rd. BMO Capital Markets raised their target price on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Jefferies Financial Group boosted their price target on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a research note on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $44.33.

Toast Trading Down 3.0%

Shares of Toast stock opened at $47.81 on Wednesday. The firm has a market capitalization of $23.81 billion, a PE ratio of 207.87 and a beta of 2.01. Toast has a 12 month low of $22.10 and a 12 month high of $49.66. The business's 50-day moving average price is $44.52 and its 200-day moving average price is $39.85.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. Toast had a return on equity of 11.01% and a net margin of 3.04%. The firm's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. As a group, analysts predict that Toast will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 5,681 shares of the business'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 $241,953.79. Following the sale, the general counsel owned 221,767 shares in the company, valued at approximately $9,445,056.53. The trade was a 2.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $588,977.11. Following the completion of the transaction, the chief executive officer owned 302,498 shares of the company's stock, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 466,131 shares of company stock valued at $20,048,851. 13.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Toast

Several large investors have recently made changes to their positions in TOST. Orion Portfolio Solutions LLC purchased a new position in Toast during the fourth quarter worth approximately $208,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Toast during the 4th quarter worth approximately $3,940,000. Aviva PLC lifted its position in shares of Toast by 9.1% during the 4th quarter. Aviva PLC now owns 216,312 shares of the company's stock valued at $7,885,000 after buying an additional 17,962 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Toast by 77.8% in the 4th quarter. Russell Investments Group Ltd. now owns 135,365 shares of the company's stock valued at $4,934,000 after acquiring an additional 59,231 shares during the period. Finally, Cerity Partners LLC increased its holdings in Toast by 3.4% in the 4th quarter. Cerity Partners LLC now owns 73,931 shares of the company's stock worth $2,672,000 after acquiring an additional 2,405 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.

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