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

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

TOST has been the subject of several other research reports. Robert W. Baird increased their target price on shares of Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and increased their price target for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. Finally, Stephens boosted their target price on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.94.

Toast Stock Up 2.7 %

Shares of TOST stock opened at $30.03 on Tuesday. Toast has a 12-month low of $13.77 and a 12-month high of $30.70. The firm has a fifty day moving average of $26.66 and a 200-day moving average of $25.33. The company has a market capitalization of $13.84 billion, a price-to-earnings ratio of -103.55 and a beta of 1.76.

Toast (NYSE:TOST) last issued its quarterly 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. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) earnings per share. On average, equities analysts expect that Toast will post -0.1 EPS for the current year.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 1,856 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was 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 of the company’s stock, valued at approximately $27,184,992. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Aman Narang sold 1,856 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $44,544.00. Following the sale, the chief executive officer now directly owns 1,132,708 shares of the company’s stock, valued at $27,184,992. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Stephen Fredette sold 211,686 shares of the business’s 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 transaction, the president now directly owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,387,269 shares of company stock worth $38,394,140 over the last three months. Corporate insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of hedge funds have recently added to or reduced their stakes in TOST. Forsta AP Fonden bought a new position in shares of Toast in the 3rd quarter valued at $2,276,000. Ballentine Partners LLC bought a new position in Toast in the 3rd quarter valued at approximately $207,000. E. Ohman J or Asset Management AB bought a new stake in Toast during the 3rd quarter worth approximately $493,000. Values First Advisors Inc. grew its holdings in Toast by 6.9% during the 3rd quarter. Values First Advisors Inc. now owns 33,506 shares of the company’s stock worth $949,000 after acquiring an additional 2,164 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after acquiring an additional 3,701,893 shares during the period. Institutional investors and hedge funds 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.