Toast (NYSE:TOST) Given “Buy” Rating at UBS Group

Toast (NYSE:TOST)‘s stock had its “buy” rating reiterated by equities researchers at UBS Group in a research note issued on Thursday,Benzinga reports. They presently have a $50.00 target price on the stock. UBS Group’s price objective suggests a potential upside of 42.23% from the company’s current price.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods cut their price target on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. Jefferies Financial Group cut their target price on Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. DA Davidson set a $42.00 target price on Toast in a research report on Wednesday, November 5th. Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Needham & Company LLC boosted their price objective on shares of Toast from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.18.

Toast Stock Up 3.9%

Shares of TOST opened at $35.16 on Thursday. Toast has a 52-week low of $28.12 and a 52-week high of $49.66. The stock has a fifty day simple moving average of $36.17 and a two-hundred day simple moving average of $40.96. The company has a market capitalization of $18.10 billion, a PE ratio of 81.76 and a beta of 1.94.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, equities analysts anticipate that Toast will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 7,550 shares of Toast stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the completion of the transaction, the president owned 898,475 shares in the company, valued at approximately $31,949,771. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 9,054 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $321,960.24. Following the sale, the chief financial officer owned 149,572 shares in the company, valued at approximately $5,318,780.32. This trade represents a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 49,759 shares of company stock valued at $1,769,270. 12.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in Toast by 351.8% during the 3rd quarter. Allworth Financial LP now owns 6,334 shares of the company’s stock worth $231,000 after purchasing an additional 4,932 shares during the period. IFP Advisors Inc grew its position in shares of Toast by 4.9% during the third quarter. IFP Advisors Inc now owns 29,191 shares of the company’s stock worth $1,076,000 after buying an additional 1,361 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of Toast by 80.5% during the third quarter. Swiss Life Asset Management Ltd now owns 207,194 shares of the company’s stock worth $7,565,000 after buying an additional 92,385 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Toast in the third quarter valued at approximately $587,000. Finally, Captrust Financial Advisors lifted its stake in Toast by 3.4% in the third quarter. Captrust Financial Advisors now owns 50,498 shares of the company’s stock worth $1,844,000 after acquiring an additional 1,680 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other 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.