Royal Bank of Canada Reaffirms Sector Perform Rating for Toast (NYSE:TOST)

Royal Bank of Canada restated their sector perform rating on shares of Toast (NYSE:TOST - Free Report) in a research note published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $23.00 price target on the stock.

A number of other equities research analysts also recently commented on TOST. Piper Sandler raised their price objective on shares of Toast from $18.00 to $20.00 and gave the company a neutral rating in a research report on Friday, February 16th. The Goldman Sachs Group upgraded Toast from a neutral rating to a buy rating and increased their target price for the stock from $16.00 to $24.00 in a research report on Wednesday, January 10th. BNP Paribas raised Toast from a neutral rating to an outperform rating and set a $30.00 target price on the stock in a research report on Thursday, March 7th. Keefe, Bruyette & Woods assumed coverage on shares of Toast in a research report on Tuesday. They set a market perform rating and a $25.00 price target for the company. Finally, Redburn Atlantic upgraded shares of Toast from a neutral rating to a buy rating and set a $28.00 price objective on the stock in a report on Wednesday, February 7th. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $23.42.

Toast Trading Up 6.9 %

Shares of Toast stock traded up $1.59 on Thursday, hitting $24.57. The stock had a trading volume of 8,156,984 shares, compared to its average volume of 8,518,374. The company's 50 day moving average price is $22.63 and its 200 day moving average price is $18.87. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of -48.17 and a beta of 1.79. Toast has a 52-week low of $13.77 and a 52-week high of $27.00.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm's revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) earnings per share. Analysts predict that Toast will post -0.22 EPS for the current fiscal year.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 2,272 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 $53,164.80. Following the sale, the president now owns 2,835,759 shares of the company's stock, valued at approximately $66,356,760.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Brian R. Elworthy sold 1,481 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $34,655.40. Following the completion of the sale, the general counsel now owns 162,883 shares in the company, valued at approximately $3,811,462.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 2,272 shares of the company's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the sale, the president now directly owns 2,835,759 shares of the company's stock, valued at $66,356,760.60. The disclosure for this sale can be found here. Insiders sold 364,747 shares of company stock worth $7,517,515 in the last 90 days. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Toast

A number of hedge funds have recently modified their holdings of the business. Baystate Wealth Management LLC purchased a new stake in shares of Toast during the 3rd quarter worth about $29,000. BluePath Capital Management LLC acquired a new position in shares of Toast during the 3rd quarter worth about $30,000. Principal Securities Inc. acquired a new position in shares of Toast during the fourth quarter worth approximately $30,000. Cape Investment Advisory Inc. bought a new stake in shares of Toast in the fourth quarter valued at approximately $31,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Toast by 277.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company's stock valued at $31,000 after purchasing an additional 1,257 shares during the period. Hedge funds and other institutional investors 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.