Royal Bank of Canada Reiterates Sector Perform Rating for Toast (NYSE:TOST)

Toast (NYSE:TOST)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They currently have a $23.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 3.46% from the company’s current price.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company boosted their target price on Toast from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, February 16th. Mizuho reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Toast in a report on Wednesday, March 27th. Keefe, Bruyette & Woods began coverage on shares of Toast in a report on Tuesday. They set a “market perform” rating and a $25.00 price target for the company. UBS Group raised their price objective on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.53.

Toast Stock Performance

Toast stock opened at $23.83 on Thursday. The company’s 50 day simple moving average is $22.73 and its 200-day simple moving average is $18.90. Toast has a 1 year low of $13.77 and a 1 year high of $27.00. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of -46.72 and a beta of 1.79.

Toast (NYSE:TOST) last released its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the company posted ($0.19) EPS. Toast’s revenue was up 34.7% compared to the same quarter last year. Equities analysts expect that Toast will post -0.22 earnings per share for the current year.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 2,272 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the sale, the president now owns 2,835,759 shares in the company, valued at $66,356,760.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the transaction, the president now directly owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following 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. Over the last three months, insiders have sold 364,747 shares of company stock worth $7,517,515. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently added to or reduced their stakes in TOST. Harbor Investment Advisory LLC acquired a new stake in shares of Toast in the 1st quarter valued at approximately $37,000. Baystate Wealth Management LLC purchased a new position in Toast in the third quarter worth $29,000. Principal Securities Inc. purchased a new position in Toast in the fourth quarter worth $30,000. BluePath Capital Management LLC acquired a new stake in Toast in the third quarter valued at $30,000. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of Toast during the 4th quarter worth $31,000. Hedge funds and other institutional investors 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.