Morgan Stanley Raises Toast (NYSE:TOST) Price Target to $33.00

Toast (NYSE:TOST) had its price target increased by Morgan Stanley from $30.00 to $33.00 in a report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently commented on TOST. Robert W. Baird lifted their price objective on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.94.

Toast Trading Up 2.7 %

TOST stock opened at $30.03 on Tuesday. The company has a market capitalization of $13.84 billion, a P/E ratio of -103.55 and a beta of 1.76. Toast has a twelve month low of $13.77 and a twelve month high of $30.70. The business has a 50 day simple moving average of $26.66 and a 200-day simple moving average of $25.33.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned ($0.19) earnings per share. Toast’s quarterly revenue was up 27.0% compared to the same quarter last year. Research analysts predict that Toast will post -0.1 EPS for the current fiscal year.

Insider Activity at Toast

In other news, CEO Aman Narang sold 1,856 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $44,544.00. Following the sale, the chief executive officer now owns 1,132,708 shares in the company, valued at approximately $27,184,992. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 1,856 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $44,544.00. Following the completion of the transaction, the chief executive officer now directly owns 1,132,708 shares of the company’s stock, valued at approximately $27,184,992. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,387,269 shares of company stock valued at $38,394,140 in the last 90 days. 13.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

Institutional investors and hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC lifted its position in Toast by 1.0% during the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after purchasing an additional 436 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Toast during the 1st quarter valued at $37,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Toast by 21.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 46,362 shares of the company’s stock valued at $1,155,000 after purchasing an additional 8,095 shares during the period. Toth Financial Advisory Corp bought a new position in shares of Toast in the 1st quarter worth $305,000. Finally, WoodTrust Financial Corp acquired a new stake in shares of Toast during the first quarter worth $754,000. Institutional investors own 82.91% of the company’s stock.

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.