Toast (NYSE:TOST) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. increased its price target for Toast (NYSE: TOST) from $42.00 to $52.00, indicating a potential upside of 12.97% from the company's prior close, while maintaining a "neutral" rating.
• Toast's stock had a mixed analyst outlook, with twelve analysts rating it as a hold and fifteen as a buy, resulting in a consensus rating of "Moderate Buy" with an average target price of $45.54.
• The company's recent quarterly earnings report showed a revenue of $1.55 billion, exceeding expectations, but the earnings per share of $0.13 fell short of the estimated $0.23.

Toast (NYSE:TOST - Get Free Report) had its price target lifted by JPMorgan Chase & Co. from $42.00 to $52.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 12.97% from the company's previous close.

A number of other research firms have also recently weighed in on TOST. Truist Financial upped their price objective on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wells Fargo & Company initiated coverage on shares of Toast in a research report on Wednesday, July 16th. They set a "buy" rating on the stock. Piper Sandler increased their price target on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Morgan Stanley increased their price objective on shares of Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Wall Street Zen lowered shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Twelve research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.54.

Toast Stock Performance

Toast stock traded down $1.68 during trading on Wednesday, reaching $46.03. 21,521,596 shares of the company's stock were exchanged, compared to its average volume of 7,313,354. The company's 50-day moving average is $44.52 and its two-hundred day moving average is $39.85. Toast has a 52-week low of $22.10 and a 52-week high of $49.66. The firm has a market cap of $22.92 billion, a price-to-earnings ratio of 200.13 and a beta of 2.01.

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

Insider Activity at Toast

In other news, President Stephen Fredette sold 7,647 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $325,685.73. Following the completion of the sale, the president owned 889,017 shares in the company, valued at approximately $37,863,234.03. This represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 6,592 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $280,753.28. Following the sale, the executive owned 61,791 shares of the company's stock, valued at $2,631,678.69. This trade represents a 9.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 466,131 shares of company stock worth $20,048,851. 13.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. Ameritas Advisory Services LLC acquired a new position in Toast in the 2nd quarter worth approximately $31,000. Wayfinding Financial LLC acquired a new position in Toast in the 1st quarter worth approximately $34,000. REAP Financial Group LLC boosted its stake in Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company's stock worth $35,000 after purchasing an additional 506 shares during the period. Piscataqua Savings Bank boosted its stake in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares during the period. Finally, West Branch Capital LLC boosted its stake in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds 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.

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