Toast (NYSE:TOST) Given New $25.00 Price Target at Canaccord Genuity Group

Posted by on May 14th, 2022

Toast (NYSE:TOST – Get Rating) had its price target lowered by Canaccord Genuity Group from $34.00 to $25.00 in a report issued on Friday morning, The Fly reports.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company assumed coverage on Toast in a research note on Monday, April 4th. They issued an overweight rating and a $29.00 price objective for the company. The Goldman Sachs Group dropped their target price on Toast from $34.00 to $25.00 and set a neutral rating on the stock in a report on Friday, April 8th. KeyCorp dropped their target price on Toast from $35.00 to $30.00 and set an overweight rating on the stock in a report on Thursday, February 24th. Robert W. Baird began coverage on Toast in a report on Monday, March 14th. They issued an outperform rating and a $25.00 target price on the stock. Finally, Sanford C. Bernstein began 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $31.40.

NYSE TOST traded up $0.70 during trading hours on Friday, hitting $14.99. 12,731,121 shares of the company’s stock were exchanged, compared to its average volume of 4,796,106. The stock has a 50-day simple moving average of $18.85 and a 200 day simple moving average of $28.74. Toast has a 1-year low of $11.91 and a 1-year high of $69.93.

Toast (NYSE:TOST – Get Rating) last announced its quarterly earnings data on Tuesday, February 15th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.27). The business had revenue of $512.00 million during the quarter, compared to analysts’ expectations of $484.55 million. Equities analysts expect that Toast will post -0.99 earnings per share for the current year.

In other Toast news, CFO Elena Gomez sold 1,870 shares of Toast stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $19.33, for a total transaction of $36,147.10. Following the completion of the sale, the chief financial officer now owns 58,484 shares of the company’s stock, valued at $1,130,495.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul D. Bell purchased 12,500 shares of the company’s stock in a transaction on Friday, February 25th. The shares were purchased at an average cost of $20.20 per share, with a total value of $252,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 54,233 shares of company stock valued at $1,242,593.

A number of hedge funds have recently modified their holdings of TOST. Cubist Systematic Strategies LLC bought a new stake in Toast during the third quarter worth about $30,000. Evoke Wealth LLC bought a new stake in shares of Toast in the 4th quarter valued at about $32,000. AllSquare Wealth Management LLC bought a new stake in shares of Toast in the 3rd quarter valued at about $36,000. Advisor Group Holdings Inc. bought a new stake in shares of Toast in the 3rd quarter valued at about $41,000. Finally, IFP Advisors Inc lifted its stake in shares of Toast by 129.3% in the 4th quarter. IFP Advisors Inc now owns 1,339 shares of the company’s stock valued at $47,000 after acquiring an additional 755 shares during the last quarter. 38.86% of the stock is owned by hedge funds and other 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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