Toast (NYSE:TOST) Downgraded by Robert W. Baird

Robert W. Baird lowered shares of Toast (NYSE:TOSTGet Rating) from an outperform rating to a neutral rating in a research note published on Tuesday, MarketBeat reports. The brokerage currently has $24.00 price target on the stock, down from their prior price target of $26.00.

Several other analysts have also issued reports on the company. Morgan Stanley upped their target price on Toast from $29.00 to $30.00 and gave the stock an overweight rating in a report on Friday, November 11th. KeyCorp upped their target price on Toast from $25.00 to $26.00 and gave the stock an overweight rating in a report on Friday, November 11th. Needham & Company LLC upped their target price on Toast from $27.00 to $32.00 and gave the stock a buy rating in a report on Friday, November 11th. William Blair reiterated an outperform rating on shares of Toast in a report on Thursday, November 10th. Finally, Piper Sandler dropped their target price on Toast from $26.00 to $22.00 and set an overweight rating on the stock in a report on Monday, January 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $23.50.

Toast Price Performance

TOST stock opened at $21.46 on Tuesday. The stock has a market capitalization of $10.98 billion, a P/E ratio of -29.40 and a beta of 1.58. The business has a 50-day moving average of $18.55 and a 200-day moving average of $18.35. Toast has a fifty-two week low of $11.91 and a fifty-two week high of $30.60.

Toast (NYSE:TOSTGet Rating) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.03. The company had revenue of $752.00 million during the quarter, compared to analysts’ expectations of $714.61 million. Toast had a negative return on equity of 25.85% and a negative net margin of 6.99%. Equities analysts expect that Toast will post -0.52 EPS for the current year.

Insider Activity

In other news, CFO Elena Gomez sold 2,024 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $21.18, for a total value of $42,868.32. Following the transaction, the chief financial officer now owns 87,034 shares of the company’s stock, valued at $1,843,380.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Elena Gomez sold 2,024 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $21.18, for a total value of $42,868.32. Following the transaction, the chief financial officer now owns 87,034 shares of the company’s stock, valued at $1,843,380.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Michael Matlock sold 25,991 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $21.18, for a total value of $550,489.38. Following the completion of the transaction, the insider now directly owns 38,704 shares in the company, valued at approximately $819,750.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,356,016 shares of company stock valued at $169,711,840. 20.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Toast by 0.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 40,755,189 shares of the company’s stock worth $527,372,000 after buying an additional 110,917 shares in the last quarter. Vanguard Group Inc. grew its position in Toast by 23.6% during the third quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock worth $458,348,000 after buying an additional 5,232,858 shares in the last quarter. Altimeter Capital Management LP grew its position in Toast by 3,508.4% during the first quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock worth $3,933,007,000 after buying an additional 17,541,796 shares in the last quarter. Durable Capital Partners LP grew its position in Toast by 85.1% during the third quarter. Durable Capital Partners LP now owns 14,705,314 shares of the company’s stock worth $245,873,000 after buying an additional 6,762,023 shares in the last quarter. Finally, BlackRock Inc. grew its position in Toast by 4.6% during the third quarter. BlackRock Inc. now owns 10,806,315 shares of the company’s stock worth $180,681,000 after buying an additional 472,385 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

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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Analyst Recommendations for Toast (NYSE:TOST)

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