Piper Jaffray, equity research analysts, reduced their price target for Toast (NYSE: TOST) on Monday after announcing the results of their investigation. The previous price goal of $26.00 has been revised to $22.00 as the new price objective. When compared to the price at which the company is currently trading, Piper Sandler’s price target indicates the potential for an increase of 26.22%.
Several other equity analysts also recently published reports on the company’s stock, which were made available to the public not too long ago. Wolfe Research published a research note on Tuesday, November 29th, announcing that it would begin covering Toast shares. They gave the company a “peer performed” rating and concluded that its target price should be $18.00. In a research report made public on November 10th, William Blair reaffirmed its “outperform” recommendation on Toast shares. KeyCorp gave an “overweight” rating to the share price of Toast in a research study that was released to the public on November 11th, and the company announced the rating. KeyCorp has increased its price target for purchasing Toast shares from $25.00 to $26.00, having previously targeted a price of $25.00. Wells Fargo & Company increased their target price on Toast shares from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report published on Friday, November 11th. Robert W. Baird increased their target price for Toast shares from $25.00 to $26.00 in a research note made public on Friday, November 11th. The note was made available to the public. This was the final change, but certainly not the least important one. One of the equity research analysts has recommended selling the stock, while six of them have suggested holding onto it, and eight of them have given the stock a buy rating. According to the data from Bloomberg, the company is currently rated as having a “Hold” status, and an average price objective of $23.90 has been established.
On Monday, shares of Toast were made available to the general public for the first time for $17.33. This business has a price-to-earnings ratio of -23.88, a beta value of 1.58, and a market capitalization of $8.92 billion. During the last 52 weeks, the price of Toast has ranged anywhere from $11.91 to $30.94 at various times. $18.57 is the company’s average price over the past 50 days, and $17.86 is its average price over the past 200 days.
On November 10th, Toast (NYSE: TOST) announced its earnings for the three-month period that ended in September. The company reported earnings per share for the period at $0.19, which is $0.03 lower than the consensus estimate of $0.22. The company announced revenue for the quarter of $752 million, which is significantly higher than the industry analysts’ consensus estimate of $714.61 million, which the company provided. The equity return for Toast came in at a negative 25.85%, and the net margin for the company was also negative, coming in at 6.99%. According to the projections of market research professionals, Toast will finish the current fiscal year with a loss of 0.52 cents per share.
In other news about Toast, Chief Financial Officer Elena Gomez sold 8,626 shares on January 4th. The price that was ultimately settled on for each share was $18.05, and a total of $155,699.30 worth of the company’s stock was bought and sold. The chief financial officer currently holds an ownership stake in the company equal to 101,843 shares and is valued at approximately $1,838,266.15 at the current market price. Follow the link, which will take you to a filing submitted to the Securities and Exchange Commission. You will have the opportunity to acquire additional information regarding the transaction. In other news about Toast, Chief Financial Officer Elena Gomez sold 8,626 shares on January 4th. The price that was ultimately settled on for each share was $18.05, and a total of $155,699.30 worth of the company’s stock was bought and sold. The chief financial officer currently holds an ownership stake in the company equal to 101,843 shares and is valued at approximately $1,838,266.15 at the current market price. Follow the link, which will take you to a filing submitted to the Securities and Exchange Commission. You will have the opportunity to acquire additional information regarding the transaction. Toast insider James Michael Matlock sold 25,991 shares of the company’s stock on November 2nd. This is in addition to the previous point. The total value of the traded shares was $550,489.38, and the average price at which they were bought and sold was $21.18. The company insider now directly owns 38,704 shares of the company’s stock, which have a combined value of approximately $819,750.72 as a direct consequence of the transaction. Disclosures that are related to the sale might be found in this section of the website. Recent transactions involving members of management and other insiders of the company resulted in the sale of 9,455,563 shares of stock with a total value of $171,714,333. Business insiders own a total of 16% of the company’s shares.
In the most recent few months, several hedge funds and other institutional investors have adjusted the percentage of the company’s stock held by each portfolio. The Bank of New York Mellon Corporation increased the amount of Toast stock owned by 104.2% during the third quarter of the fiscal year. The company increased its total number of shares of stock it owns to 1,309,351 during the most recent quarter by purchasing an additional 668,052 shares. The current market value of the company’s stock is $21,894,000. During the third quarter, the California State Teachers Retirement System saw a 30.0% increase in the value of its holdings in Toast. The California State Teachers Retirement System now holds a total of 126,526 shares of the company’s stock, following the acquisition of an additional 29,233 shares during the most recent quarter. The stock is currently valued at $2,160,000. In the third quarter, Balyasny Asset Management LLC saw a 94.0% increase in the size of its holdings in Toast, bringing the total value of those holdings to $. Balyasny Asset Management LLC increased its stake in the company by 694,103 shares during the most recent reporting period, bringing the total number of shares it owns in the enterprise to 1,432,284 with a value of $23,948,000. Fred Alger Management LLC made a further investment in Toast amounting to approximately $11,021,000 during the third quarter, bringing the total value of its holdings in the company to approximately $11,021,000. During the third quarter, BNP Paribas Arbitrage SNC purchased an additional holding in Toast for a total value of $6,741,000. Institutional investors and hedge funds own 50.82 percent of the company’s stock.
Toast, Inc. is a platform that serves the hospitality industry in the United States and Ireland by supplying cloud-based and digital technologies. Toast’s hardware products include Toast Point of Sale (POS), Toast Order & Pay, and Toast Flex, which can be used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a portable POS device that speeds up table turn times by accepting payments at the table; and Toast Tap, a card reader. Other Toast hardware products include Toast Go, Toast Flex, and Toast Order & Pay. Toast’s software offerings include Toast Flex, Order & Pay, and Toast Point of Sale (POS).