Toast (NYSE:TOST) Price Target Increased to $28.00 by Analysts at Canaccord Genuity Group

Toast (NYSE:TOST) had its target price lifted by Canaccord Genuity Group from $22.00 to $28.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada reiterated a sector perform rating and issued a $23.00 price objective on shares of Toast in a research report on Thursday, April 11th. BNP Paribas upgraded Toast from a neutral rating to an outperform rating and set a $30.00 price objective on the stock in a research report on Thursday, March 7th. Mizuho reiterated a neutral rating and issued a $17.00 price objective on shares of Toast in a research report on Wednesday, March 27th. Robert W. Baird lifted their price objective on Toast from $24.00 to $28.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on Toast from $25.00 to $26.00 and gave the stock a market perform rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Toast has a consensus rating of Hold and an average target price of $25.80.

Toast Stock Performance

Shares of Toast stock remained flat at $26.82 during trading on Wednesday. The stock had a trading volume of 15,196,707 shares, compared to its average volume of 8,284,737. The company has a market capitalization of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77. The business has a 50 day simple moving average of $23.71 and a two-hundred day simple moving average of $19.57. Toast has a 12-month low of $13.77 and a 12-month high of $27.57.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned ($0.16) EPS. Toast’s revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, sell-side analysts expect that Toast will post -0.22 earnings per share for the current year.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 2,471 shares of Toast stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the sale, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Toast news, CEO Aman Narang sold 2,471 shares of Toast stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the sale, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 176,980 shares of the company’s stock, valued at approximately $4,670,502.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,010 shares of company stock worth $4,711,760. 13.32% of the stock is owned by insiders.

Institutional Trading of Toast

Large investors have recently modified their holdings of the company. Harbor Investment Advisory LLC bought a new stake in shares of Toast in the first quarter worth $37,000. Principal Securities Inc. bought a new stake in shares of Toast in the fourth quarter worth $30,000. Cape Investment Advisory Inc. bought a new stake in shares of Toast in the fourth quarter worth $31,000. SRS Capital Advisors Inc. bought a new stake in shares of Toast in the third quarter worth $33,000. Finally, Larson Financial Group LLC grew its holdings in shares of Toast by 8,181.8% in the third quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock worth $34,000 after acquiring an additional 1,800 shares during the period. 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.