UBS Group Increases Toast (NYSE:TOST) Price Target to $31.00

Toast (NYSE:TOST - Get Free Report) had its target price upped by equities research analysts at UBS Group from $22.00 to $31.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 24.40% from the company's current price.

Several other research analysts have also weighed in on TOST. The Goldman Sachs Group upgraded shares of Toast from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $16.00 to $24.00 in a report on Wednesday, January 10th. Evercore ISI started coverage on shares of Toast in a report on Monday, March 4th. They issued an "outperform" rating and a $32.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of Toast from $19.00 to $23.00 and gave the company a "sector perform" rating in a research note on Friday, February 16th. Mizuho reiterated a "neutral" rating and set a $17.00 price objective on shares of Toast in a research note on Wednesday. Finally, Bank of America lowered shares of Toast from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $22.00 to $16.00 in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Toast presently has an average rating of "Hold" and a consensus price target of $23.20.

Toast Trading Up 2.4 %

Shares of Toast stock traded up $0.59 during mid-day trading on Thursday, hitting $24.92. 6,788,714 shares of the stock were exchanged, compared to its average volume of 8,890,070. Toast has a twelve month low of $13.77 and a twelve month high of $27.00. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of -48.06 and a beta of 1.78. The company has a 50-day simple moving average of $21.25 and a 200 day simple moving average of $18.57.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the company earned ($0.19) EPS. The firm's revenue for the quarter was up 34.7% compared to the same quarter last year. Equities research analysts forecast that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 224,900 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total value of $4,131,413.00. Following the completion of the transaction, the general counsel now directly owns 160,340 shares of the company's stock, valued at $2,945,445.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, General Counsel Brian R. Elworthy sold 224,900 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total value of $4,131,413.00. Following the completion of the sale, the general counsel now directly owns 160,340 shares in the company, valued at $2,945,445.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 1,722 shares of Toast stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total value of $29,945.58. Following the completion of the sale, the general counsel now owns 383,188 shares of the company's stock, valued at $6,663,639.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 359,444 shares of company stock valued at $7,276,642. 13.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Toast by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company's stock worth $669,729,000 after acquiring an additional 1,598,248 shares during the last quarter. Syon Capital LLC bought a new stake in Toast in the 4th quarter valued at $377,000. Integrated Advisors Network LLC bought a new stake in Toast in the 4th quarter valued at $186,000. Chicago Partners Investment Group LLC boosted its stake in Toast by 18.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 37,047 shares of the company's stock valued at $676,000 after purchasing an additional 5,787 shares during the period. Finally, Eventide Asset Management LLC boosted its stake in Toast by 24.7% in the 4th quarter. Eventide Asset Management LLC now owns 3,650,066 shares of the company's stock valued at $66,650,000 after purchasing an additional 723,992 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

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.