Toast (NYSE:TOST) Sets New 12-Month High Following Analyst Upgrade

Toast, Inc. (NYSE:TOST - Get Free Report) reached a new 52-week high during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $20.00 to $25.00. Piper Sandler currently has a neutral rating on the stock. Toast traded as high as $27.57 and last traded at $26.58, with a volume of 1499676 shares changing hands. The stock had previously closed at $26.82.

A number of other analysts also recently commented on TOST. Needham & Company LLC upped their target price on Toast from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday. The Goldman Sachs Group raised their price objective on shares of Toast from $26.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Wells Fargo & Company boosted their target price on shares of Toast from $17.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday. BNP Paribas raised shares of Toast from a "neutral" rating to an "outperform" rating and set a $30.00 price objective for the company in a report on Thursday, March 7th. Finally, Redburn Atlantic raised shares of Toast from a "neutral" rating to a "buy" rating and set a $28.00 target price on the stock in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $25.80.

Insider Transactions at Toast

In related news, CFO Elena Gomez sold 12,500 shares of the company's stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 176,980 shares of the company's stock, valued at approximately $4,670,502.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider James Michael Matlock sold 1,205 shares of Toast stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $28,197.00. Following the transaction, the insider now owns 40,954 shares in the company, valued at approximately $958,323.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 12,500 shares of the company's stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 176,980 shares of the company's stock, valued at approximately $4,670,502.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,010 shares of company stock valued at $4,711,760. Corporate insiders own 13.32% of the company's stock.

Hedge Funds Weigh In On Toast

A number of institutional investors have recently bought and sold shares of TOST. Principal Securities Inc. purchased a new position in shares of Toast during the 4th quarter worth $30,000. Cape Investment Advisory Inc. acquired a new stake in shares of Toast during the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. purchased a new stake in shares of Toast in the 3rd quarter valued at approximately $33,000. Larson Financial Group LLC lifted its holdings in shares of Toast by 8,181.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company's stock worth $34,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Spire Wealth Management boosted its position in shares of Toast by 481.6% during the 3rd quarter. Spire Wealth Management now owns 1,838 shares of the company's stock worth $34,000 after purchasing an additional 1,522 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Performance

The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -52.59 and a beta of 1.77. The company's fifty day moving average is $23.79 and its two-hundred day moving average is $19.62.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.15). The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.04 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The business's quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.16) earnings per share. Analysts predict that Toast, Inc. will post -0.22 EPS for the current year.

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.