Robert W. Baird Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price target hoisted by analysts at Robert W. Baird from $38.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 1.77% from the stock’s previous close.

TOST has been the topic of a number of other research reports. BNP Paribas lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods raised their target price on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday. Wells Fargo & Company upped their target price on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Piper Sandler upped their price objective on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.95.

Toast Price Performance

Shares of NYSE TOST opened at $39.30 on Thursday. The stock has a market capitalization of $18.51 billion, a P/E ratio of -304.48, a PEG ratio of 2.27 and a beta of 1.98. Toast has a one year low of $20.49 and a one year high of $44.12. The firm’s 50 day simple moving average is $38.59 and its two-hundred day simple moving average is $33.30.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities analysts expect that Toast will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the sale, the president now directly owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,564 shares of company stock worth $13,577,845 in the last quarter. 13.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Toast

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. bought a new stake in shares of Toast in the 3rd quarter valued at about $438,301,000. FMR LLC lifted its position in Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after acquiring an additional 8,205,053 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Toast during the 4th quarter valued at about $282,010,000. Norges Bank acquired a new position in shares of Toast in the fourth quarter valued at about $205,888,000. Finally, Vanguard Group Inc. raised its stake in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the last quarter. Hedge funds and other 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.