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

by · The Markets Daily

Toast (NYSE:TOST – Get Free Report) had its target price boosted by equities researchers at DA Davidson from $35.00 to $44.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 11.22% from the stock’s previous close.

Several other research firms have also recently commented on TOST. Royal Bank of Canada increased their price objective on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday. Morgan Stanley increased their price objective on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Stephens raised their target price on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Piper Sandler raised their target price on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Toast has a consensus rating of “Hold” and an average price target of $32.75.

Check Out Our Latest Stock Report on Toast

Toast Trading Up 4.2 %

Shares of NYSE:TOST traded up $1.61 during trading on Tuesday, reaching $39.56. 8,018,909 shares of the company traded hands, compared to its average volume of 7,256,150. The business’s fifty day moving average is $28.45 and its 200-day moving average is $26.11. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of -304.31 and a beta of 1.74. Toast has a 52-week low of $13.77 and a 52-week high of $39.62.

Insider Buying and Selling

In related news, CEO Aman Narang sold 10,106 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at $26,883,998.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Toast news, CEO Aman Narang sold 10,106 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the sale, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,238,040.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,375,651 shares of company stock worth $38,150,212. 13.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several hedge funds have recently modified their holdings of TOST. West Branch Capital LLC bought a new stake in shares of Toast in the second quarter worth $26,000. LRI Investments LLC bought a new stake in Toast in the first quarter worth about $27,000. Toth Financial Advisory Corp acquired a new stake in Toast during the 3rd quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Toast during the 2nd quarter worth about $33,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Toast during the 2nd quarter valued at about $34,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

About Toast

(Get Free Report)

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.

Read More