Keefe, Bruyette & Woods Begins Coverage on Toast (NYSE:TOST)

Research analysts at Keefe, Bruyette & Woods started coverage on shares of Toast (NYSE:TOST - Get Free Report) in a research report issued on Tuesday, MarketBeat reports. The brokerage set a "market perform" rating and a $25.00 price target on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 5.44% from the company's current price.

Several other analysts also recently commented on TOST. Mizuho reaffirmed a "neutral" rating and set a $17.00 target price on shares of Toast in a report on Wednesday, March 27th. Piper Sandler lifted their price objective on shares of Toast from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. UBS Group lifted their price objective on shares of Toast from $22.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, March 28th. Evercore ISI began coverage on shares of Toast in a research note on Monday, March 4th. They issued an "outperform" rating and a $32.00 price objective for the company. Finally, The Goldman Sachs Group upgraded shares of Toast from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $16.00 to $24.00 in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $23.42.

Toast Trading Up 2.3 %

Shares of TOST traded up $0.54 during midday trading on Tuesday, reaching $23.71. The stock had a trading volume of 5,258,474 shares, compared to its average volume of 8,574,737. The firm has a 50 day simple moving average of $22.30 and a 200-day simple moving average of $18.76. Toast has a one year low of $13.77 and a one year high of $27.00. The firm has a market cap of $10.36 billion, a PE ratio of -45.43 and a beta of 1.79.

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

Insider Activity at Toast

In related news, CEO Aman Narang sold 2,471 shares of Toast stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now directly owns 1,114,454 shares of the company's stock, valued at approximately $26,078,223.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Toast news, General Counsel Brian R. Elworthy sold 224,900 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the sale, the general counsel now directly owns 160,340 shares of the company's stock, valued at approximately $2,945,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aman Narang sold 2,471 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 364,847 shares of company stock valued at $7,519,492. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. grew its holdings in Toast by 4.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 12,738 shares of the company's stock worth $229,000 after acquiring an additional 530 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Toast by 2.6% in the 3rd quarter. Brown Advisory Inc. now owns 26,861 shares of the company's stock valued at $503,000 after purchasing an additional 675 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Toast by 5.1% in the 4th quarter. Raymond James & Associates now owns 14,889 shares of the company's stock valued at $268,000 after purchasing an additional 725 shares during the last quarter. Trinity Financial Advisors LLC boosted its stake in shares of Toast by 3.7% in the 3rd quarter. Trinity Financial Advisors LLC now owns 21,135 shares of the company's stock valued at $396,000 after purchasing an additional 747 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Toast by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company's stock valued at $255,000 after purchasing an additional 774 shares during the last quarter. 82.91% of the stock is owned by 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.