Toast (NYSE:TOST) Given New $21.00 Price Target at Needham & Company LLC

Toast (NYSE:TOSTGet Rating) had its price objective lowered by Needham & Company LLC from $38.00 to $21.00 in a research note issued to investors on Friday morning, The Fly reports.

A number of other equities analysts have also recently issued reports on TOST. Credit Suisse Group assumed coverage on Toast in a report on Monday, March 28th. They issued a neutral rating and a $22.00 target price on the stock. Morgan Stanley decreased their target price on Toast from $39.00 to $36.00 and set an overweight rating on the stock in a report on Wednesday, February 16th. Sanford C. Bernstein initiated coverage on Toast in a report on Tuesday, March 22nd. They issued a market perform rating and a $19.00 target price on the stock. Moffett Nathanson initiated coverage on Toast in a research report on Tuesday, April 5th. They issued a sell rating and a $19.00 target price for the company. Finally, Piper Sandler decreased their target price on Toast from $48.00 to $33.00 and set an overweight rating for the company in a research report on Wednesday, February 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $31.40.

Shares of NYSE TOST traded up $0.70 during trading on Friday, hitting $14.99. The company had a trading volume of 12,731,121 shares, compared to its average volume of 4,796,106. Toast has a 52 week low of $11.91 and a 52 week high of $69.93. The business’s 50-day moving average is $18.85 and its 200 day moving average is $28.74.

Toast (NYSE:TOSTGet Rating) last issued its earnings results on Tuesday, February 15th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.27). The company had revenue of $512.00 million during the quarter, compared to analyst estimates of $484.55 million. On average, research analysts forecast that Toast will post -0.99 earnings per share for the current year.

In other Toast news, CFO Elena Gomez sold 37,308 shares of the business’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $23.46, for a total value of $875,245.68. Following the completion of the sale, the chief financial officer now owns 56,442 shares of the company’s stock, valued at $1,324,129.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher P. Comparato sold 2,214 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $19.33, for a total value of $42,796.62. Following the completion of the sale, the chief executive officer now directly owns 314,557 shares of the company’s stock, valued at approximately $6,080,386.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,233 shares of company stock valued at $1,242,593.

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in shares of Toast by 588.9% in the first quarter. Renaissance Technologies LLC now owns 750,900 shares of the company’s stock worth $16,317,000 after purchasing an additional 641,900 shares during the period. Charles Schwab Investment Management Inc. increased its position in Toast by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 370,523 shares of the company’s stock worth $8,052,000 after buying an additional 8,477 shares during the period. Permanens Capital L.P. increased its position in Toast by 519.0% in the 1st quarter. Permanens Capital L.P. now owns 342,154 shares of the company’s stock worth $7,435,000 after buying an additional 286,876 shares during the period. AJ Wealth Strategies LLC acquired a new position in shares of Toast during the first quarter worth approximately $249,000. Finally, Parkwood LLC grew its stake in shares of Toast by 672.4% in the first quarter. Parkwood LLC now owns 133,384 shares of the company’s stock worth $2,898,000 after acquiring an additional 116,116 shares during the last quarter. 38.86% of the stock is owned by institutional investors.

About Toast (Get Rating)

Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.

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