Toast (NYSE:TOST) PT Lowered to $19.00 at Mizuho

Toast (NYSE:TOSTGet Rating) had its price objective cut by equities researchers at Mizuho from $23.00 to $19.00 in a research note issued on Monday, The Fly reports. Mizuho’s price target suggests a potential upside of 23.62% from the company’s current price.

Several other analysts have also commented on the stock. Morgan Stanley lowered their price target on shares of Toast from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 16th. Needham & Company LLC lowered their price target on shares of Toast from $70.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th. Wells Fargo & Company assumed coverage on shares of Toast in a research report on Monday, April 4th. They set an “overweight” rating and a $29.00 target price on the stock. Piper Sandler decreased their target price on shares of Toast from $48.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 16th. Finally, Credit Suisse Group assumed coverage on shares of Toast in a research report on Monday, March 28th. They set a “neutral” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus price target of $33.13.

Shares of Toast stock opened at $15.37 on Monday. The company has a 50-day moving average of $19.36 and a two-hundred day moving average of $29.75. Toast has a 12-month low of $14.41 and a 12-month high of $69.93.

Toast (NYSE:TOSTGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.27). The firm had revenue of $512.00 million for the quarter, compared to analyst estimates of $484.55 million. As a group, sell-side analysts predict that Toast will post -0.99 earnings per share for the current year.

In other news, CEO Christopher P. Comparato sold 2,214 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $19.33, for a total value of $42,796.62. Following the transaction, the chief executive officer now owns 314,557 shares of the company’s stock, valued at approximately $6,080,386.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Fredette sold 1,914 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $23.66, for a total transaction of $45,285.24. Following the completion of the transaction, the insider now directly owns 4,307,108 shares in the company, valued at approximately $101,906,175.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,995 shares of company stock worth $6,740,074.

Hedge funds have recently modified their holdings of the company. Lead Edge Capital Management LLC increased its stake in Toast by 25,906.8% during the 4th quarter. Lead Edge Capital Management LLC now owns 13,003,407 shares of the company’s stock worth $406,226,000 after buying an additional 12,953,407 shares during the period. Capital International Investors increased its stake in Toast by 992.9% during the 4th quarter. Capital International Investors now owns 7,950,799 shares of the company’s stock worth $275,972,000 after buying an additional 7,223,299 shares during the period. D1 Capital Partners L.P. purchased a new stake in Toast during the 4th quarter worth $221,555,000. HarbourVest Partners LLC purchased a new stake in Toast during the 4th quarter worth $94,051,000. Finally, BlackRock Inc. purchased a new stake in Toast during the 3rd quarter worth $95,717,000. 38.86% of the stock is currently owned by institutional investors and hedge funds.

About Toast (Get Rating)

Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.

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