Toast (NYSE:TOST) Price Target Increased to $31.00 by Analysts at UBS Group

Toast (NYSE:TOST) had its price objective hoisted by UBS Group from $22.00 to $31.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on TOST. Redburn Atlantic upgraded shares of Toast from a neutral rating to a buy rating and set a $28.00 target price on the stock in a research note on Wednesday, February 7th. BNP Paribas upgraded shares of Toast from a neutral rating to an outperform rating and set a $30.00 price objective on the stock in a report on Thursday, March 7th. Evercore ISI started coverage on shares of Toast in a research note on Monday, March 4th. They set an outperform rating and a $32.00 target price for the company. The Goldman Sachs Group raised Toast from a neutral rating to a buy rating and increased their target price for the company from $16.00 to $24.00 in a report on Wednesday, January 10th. Finally, Mizuho reaffirmed a neutral rating and set a $17.00 price target on shares of Toast in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $23.20.

Toast Stock Performance

Shares of TOST opened at $24.92 on Thursday. The company’s 50-day moving average price is $21.40 and its 200 day moving average price is $18.62. Toast has a 12-month low of $13.77 and a 12-month high of $27.00.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm earned ($0.19) earnings per share. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. On average, analysts forecast that Toast will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the sale, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Elena Gomez sold 11,650 shares of Toast stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total transaction of $202,593.50. Following the completion of the transaction, the chief financial officer now directly owns 170,314 shares of the company’s stock, valued at $2,961,760.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 359,444 shares of company stock worth $7,276,642. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently made changes to their positions in TOST. Vanguard Group Inc. lifted its holdings in Toast by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after purchasing an additional 1,598,248 shares in the last quarter. Capital International Investors raised its position in shares of Toast by 9.1% in the fourth quarter. Capital International Investors now owns 29,349,685 shares of the company’s stock valued at $535,925,000 after buying an additional 2,449,778 shares during the last quarter. BlackRock Inc. boosted its position in Toast by 26.7% during the second quarter. BlackRock Inc. now owns 18,546,558 shares of the company’s stock worth $418,596,000 after acquiring an additional 3,907,219 shares during the last quarter. Altimeter Capital Management LP raised its holdings in Toast by 3,508.4% in the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock valued at $3,933,007,000 after acquiring an additional 17,541,796 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Toast by 34.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,078,912 shares of the company’s stock worth $293,602,000 after purchasing an additional 4,130,812 shares during the period. 82.91% of the stock is currently 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.