Royal Bank of Canada Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price objective lifted by Royal Bank of Canada from $27.00 to $40.00 in a research report released on Friday,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages have also commented on TOST. The Goldman Sachs Group lifted their price target on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Robert W. Baird raised their target price on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their target price on Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research report on Friday. Stephens boosted their price objective on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, DA Davidson boosted their price objective on Toast from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. One equities research 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. Based on data from MarketBeat.com, Toast presently has a consensus rating of “Hold” and a consensus target price of $31.80.

Toast Stock Performance

Shares of TOST stock traded up $4.81 on Friday, hitting $37.48. The company had a trading volume of 28,795,314 shares, compared to its average volume of 7,216,790. The firm has a market cap of $17.28 billion, a P/E ratio of -128.96 and a beta of 1.74. The stock’s 50-day moving average is $28.19 and its two-hundred day moving average is $25.97. Toast has a twelve month low of $13.77 and a twelve month high of $38.40.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis. Equities research analysts predict that Toast will post -0.1 EPS for the current year.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $42,486.36. Following the transaction, the executive now directly owns 39,834 shares in the company, valued at $1,238,040.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CRO Jonathan Vassil sold 1,367 shares of Toast stock in a transaction on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $42,486.36. Following the transaction, the executive now directly owns 39,834 shares in the company, valued at approximately $1,238,040.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. 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 1,375,651 shares of company stock worth $38,150,212 in the last ninety days. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOST. Northwestern Mutual Wealth Management Co. raised its stake in Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after buying an additional 421 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Toast by 1.6% in the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after purchasing an additional 441 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Toast by 3.7% in the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after purchasing an additional 448 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Toast by 32.3% in the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after purchasing an additional 496 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Toast by 8.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock worth $174,000 after acquiring an additional 520 shares in the last quarter. 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.