Truist Financial Boosts Toast (NYSE:TOST) Price Target to $50.00

Toast (NYSE:TOST - Get Free Report) had its target price increased by analysts at Truist Financial from $48.00 to $50.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 7.19% from the company's current price.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group lowered their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a research note on Thursday. They issued a "buy" rating and a $54.00 target price on the stock. DA Davidson lowered their target price on shares of Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Citigroup reaffirmed a "buy" rating on shares of Toast in a research note on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Toast currently has an average rating of "Moderate Buy" and a consensus price target of $42.29.

Toast Trading Up 3.3%

Shares of Toast stock traded up $1.51 on Thursday, reaching $46.65. The stock had a trading volume of 12,297,383 shares, compared to its average volume of 6,826,240. Toast has a 1 year low of $22.10 and a 1 year high of $47.38. The company has a market cap of $23.23 billion, a P/E ratio of 202.80 and a beta of 2.00. The business's 50 day moving average is $43.31 and its two-hundred day moving average is $38.82.

Insider Buying and Selling

In other Toast news, CEO Aman Narang sold 13,829 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the transaction, the chief executive officer directly owned 302,498 shares of the company's stock, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the transaction, the director directly owned 187,140 shares in the company, valued at approximately $8,372,643.60. The trade was a 27.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,131 shares of company stock valued at $20,048,851 over the last quarter. Company insiders own 13.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wayfinding Financial LLC purchased a new position in Toast during the 1st quarter valued at $34,000. Piscataqua Savings Bank increased its position in Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares during the period. West Branch Capital LLC increased its position in Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the period. SBI Securities Co. Ltd. increased its position in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares during the period. Finally, Signaturefd LLC increased its position in Toast by 227.1% during the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after purchasing an additional 1,022 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.