Morgan Stanley Cuts Toast (NYSE:TOST) Price Target to $46.00

Toast (NYSE:TOST) had its price objective reduced by Morgan Stanley from $50.00 to $46.00 in a report released on Wednesday, MarketBeat.com reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Toast in a research note on Thursday, February 20th. Keefe, Bruyette & Woods upped their target price on shares of Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. Robert W. Baird lifted their price target on shares of Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company upgraded shares of Toast from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $39.00 in a report on Thursday, April 10th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus price target of $40.09.

Toast Trading Up 0.0 %

NYSE TOST opened at $34.30 on Wednesday. The stock’s fifty day moving average price is $35.55 and its 200-day moving average price is $36.04. The stock has a market cap of $16.95 billion, a P/E ratio of -3,426.97, a P/E/G ratio of 2.16 and a beta of 2.00. Toast has a 12 month low of $21.32 and a 12 month high of $44.12.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, analysts forecast that Toast will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 2,052 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the sale, the chief financial officer now owns 160,498 shares of the company’s stock, valued at $6,360,535.74. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 340,770 shares of company stock valued at $11,803,911 over the last 90 days. 13.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Toast

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank bought a new stake in shares of Toast in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Toast in the fourth quarter worth about $34,000. SBI Securities Co. Ltd. bought a new position in Toast during the fourth quarter valued at approximately $35,000. Finally, West Branch Capital LLC grew its holdings in Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors 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.