Robert W. Baird Boosts Toast (NYSE:TOST) Price Target to $28.00

Toast (NYSE:TOST) had its target price boosted by Robert W. Baird from $24.00 to $28.00 in a research note issued to investors on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

TOST has been the topic of a number of other research reports. Piper Sandler upped their price target on Toast from $18.00 to $20.00 and gave the company a neutral rating in a research report on Friday, February 16th. Wells Fargo & Company upped their price objective on Toast from $15.00 to $17.00 and gave the stock an underweight rating in a report on Friday, April 12th. The Goldman Sachs Group upgraded Toast from a neutral rating to a buy rating and increased their target price for the company from $16.00 to $24.00 in a report on Wednesday, January 10th. Evercore ISI assumed coverage on Toast in a report on Monday, March 4th. They issued an outperform rating and a $32.00 price objective for the company. Finally, Redburn Atlantic raised Toast from a neutral rating to a buy rating and set a $28.00 target price for the company in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $24.32.

Toast Trading Up 1.4 %

Shares of TOST stock opened at $22.76 on Monday. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of -44.63 and a beta of 1.79. The stock has a 50-day moving average of $22.96 and a 200-day moving average of $18.99. Toast has a 1-year low of $13.77 and a 1-year high of $27.00.

Toast (NYSE:TOST) last released its earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm’s revenue was up 34.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. Sell-side analysts forecast that Toast will post -0.22 earnings per share for the current year.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 50,000 shares of Toast stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the transaction, the executive now directly owns 25,422 shares in the company, valued at $582,163.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the sale, the executive now directly owns 25,422 shares of the company’s stock, valued at $582,163.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the sale, the president now directly owns 2,835,759 shares in the company, valued at $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold a total of 414,486 shares of company stock worth $8,662,487 in the last ninety days. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Toast

Several large investors have recently added to or reduced their stakes in TOST. WoodTrust Financial Corp purchased a new position in shares of Toast during the first quarter valued at approximately $754,000. Toth Financial Advisory Corp purchased a new position in shares of Toast during the first quarter valued at approximately $305,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Toast by 21.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 46,362 shares of the company’s stock valued at $1,155,000 after buying an additional 8,095 shares during the period. Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Toast by 171.5% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 112,351 shares of the company’s stock valued at $2,582,000 after buying an additional 70,972 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Toast during the first quarter valued at approximately $37,000. 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.