Toast (NYSE:TOST) Given New $30.00 Price Target at Morgan Stanley

Toast (NYSE:TOST) had its price objective hoisted by stock analysts at Morgan Stanley from $29.00 to $30.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 30.10% from the stock’s current price.

Several other equities research analysts also recently commented on TOST. The Goldman Sachs Group upped their price objective on shares of Toast from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, April 15th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 price target on shares of Toast in a report on Wednesday, May 29th. Royal Bank of Canada raised their target price on shares of Toast from $23.00 to $27.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. Finally, Baird R W cut shares of Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.55.

Toast Stock Performance

NYSE TOST traded down $1.13 during trading on Wednesday, hitting $23.06. 10,583,370 shares of the company’s stock traded hands, compared to its average volume of 7,870,517. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of -47.34 and a beta of 1.76. Toast has a 12-month low of $13.77 and a 12-month high of $27.90. The business has a 50 day moving average of $24.76 and a 200-day moving average of $23.53.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. On average, analysts expect that Toast will post -0.14 EPS for the current year.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 3,810 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40. Following the completion of the transaction, the president now directly owns 2,847,315 shares in the company, valued at approximately $73,005,156.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the sale, the executive now directly owns 26,897 shares of the company’s stock, valued at approximately $693,673.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 3,810 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $97,688.40. Following the sale, the president now owns 2,847,315 shares in the company, valued at approximately $73,005,156.60. The disclosure for this sale can be found here. Insiders sold a total of 368,352 shares of company stock worth $9,381,482 in the last three months. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently made changes to their positions in the company. West Branch Capital LLC bought a new position in shares of Toast during the 2nd quarter worth $26,000. LRI Investments LLC bought a new position in shares of Toast during the 1st quarter worth $27,000. Principal Securities Inc. purchased a new stake in shares of Toast during the 4th quarter worth $30,000. Cape Investment Advisory Inc. purchased a new stake in shares of Toast during the 4th quarter worth $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Toast during the 2nd quarter worth $33,000. 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.