Toast (NYSE:TOST) PT Lowered to $18.00

Toast (NYSE:TOSTGet Rating) had its target price dropped by investment analysts at Mizuho from $19.00 to $18.00 in a research report issued on Tuesday, The Fly reports. Mizuho’s price objective would suggest a potential upside of 29.50% from the company’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price objective on Toast from $58.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, February 16th. Piper Sandler lowered their price objective on Toast from $48.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, February 16th. Sanford C. Bernstein initiated coverage on Toast in a research report on Tuesday, March 22nd. They set a “market perform” rating and a $19.00 price objective for the company. Canaccord Genuity Group lowered their price objective on Toast from $34.00 to $25.00 in a research report on Friday. Finally, Credit Suisse Group initiated coverage on Toast in a research report on Monday, March 28th. They set a “neutral” rating and a $22.00 price objective for the company. 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 company. According to MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus price target of $31.33.

TOST opened at $13.90 on Tuesday. Toast has a 12 month low of $11.91 and a 12 month high of $69.93. The business has a fifty day moving average price of $18.78 and a 200 day moving average price of $28.12.

Toast (NYSE:TOSTGet Rating) last released its 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 company had revenue of $512.00 million during the quarter, compared to analysts’ expectations of $484.55 million. As a group, research analysts forecast that Toast will post -0.99 EPS for the current fiscal year.

In related news, Director Paul D. Bell acquired 12,500 shares of Toast stock in a transaction on Friday, February 25th. The stock was purchased at an average cost of $20.20 per share, with a total value of $252,500.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Technology Investment Dining G sold 3,096,741 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $14.12, for a total value of $43,725,982.92. Following the sale, the insider now directly owns 20,524,970 shares of the company’s stock, valued at $289,812,576.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,150,974 shares of company stock valued at $44,968,576.

Several hedge funds have recently modified their holdings of the company. 12 West Capital Management LP raised its stake in shares of Toast by 468.0% during the 1st quarter. 12 West Capital Management LP now owns 3,313,471 shares of the company’s stock worth $72,002,000 after buying an additional 2,730,091 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of Toast during the 1st quarter worth approximately $3,694,000. Vetamer Capital Management L.P. purchased a new position in shares of Toast during the 1st quarter worth approximately $1,234,000. Greenoaks Capital Partners LLC raised its stake in shares of Toast by 15.4% during the 1st quarter. Greenoaks Capital Partners LLC now owns 7,863,367 shares of the company’s stock worth $170,871,000 after buying an additional 1,048,866 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Toast by 44.8% during the 1st quarter. Captrust Financial Advisors now owns 4,866 shares of the company’s stock worth $106,000 after buying an additional 1,505 shares in the last quarter. 38.86% of the stock is 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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