Toast (NYSE:TOST) Price Target Raised to $44.00

Toast (NYSE:TOST) had its target price upped by DA Davidson from $35.00 to $44.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company lifted their price objective on Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Morgan Stanley upped their price target on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Toast presently has a consensus rating of “Hold” and an average target price of $32.75.

Toast Stock Performance

Shares of NYSE TOST opened at $40.61 on Tuesday. Toast has a one year low of $13.77 and a one year high of $41.05. The firm has a market capitalization of $19.12 billion, a P/E ratio of -312.35 and a beta of 1.74. The company’s fifty day moving average is $29.75 and its two-hundred day moving average is $26.53.

Insider Transactions at Toast

In related news, Director Richard Kent Bennett sold 100,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the sale, the director now owns 418,591 shares in the company, valued at $15,349,731.97. This represents a 19.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the company’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 owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. The trade was a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,575,651 shares of company stock valued at $45,472,212. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. raised its stake in Toast by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after acquiring an additional 409 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after purchasing an additional 421 shares during the period. Private Advisor Group LLC raised its stake in shares of Toast by 1.6% during 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 in the last quarter. CIBC Asset Management Inc lifted 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 worth $357,000 after purchasing an additional 448 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

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.