Toast (NYSE:TOST) Downgraded by Wall Street Zen to “Hold”

Toast (NYSE:TOST) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Monday.

TOST has been the topic of several other reports. Keefe, Bruyette & Woods raised their target price on Toast from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Needham & Company LLC raised their price objective on shares of Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research note on Thursday, July 17th. They set a “buy” rating and a $54.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Toast from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.30.

Toast Stock Down 0.8%

Shares of NYSE TOST opened at $41.16 on Monday. Toast has a 52-week low of $26.63 and a 52-week high of $49.66. The firm’s 50-day moving average price is $44.25 and its 200-day moving average price is $40.66. The company has a market cap of $20.99 billion, a PE ratio of 121.06 and a beta of 2.00.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 EPS. As a group, equities research analysts anticipate that Toast will post 0.39 EPS for the current fiscal year.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 1,427 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $69,038.26. Following the transaction, the executive owned 63,298 shares of the company’s stock, valued at $3,062,357.24. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Aman Narang sold 1,719 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22. Following the transaction, the chief executive officer directly owned 304,300 shares in the company, valued at approximately $14,722,034. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,342 shares of company stock valued at $3,804,710. Company insiders own 12.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC purchased a new position in Toast during the 2nd quarter worth $209,000. Orion Porfolio Solutions LLC increased its stake in shares of Toast by 399.7% during the second quarter. Orion Porfolio Solutions LLC now owns 40,041 shares of the company’s stock valued at $1,773,000 after buying an additional 32,028 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of Toast by 1,585.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 19,378 shares of the company’s stock valued at $858,000 after buying an additional 18,228 shares during the period. Marex Group plc purchased a new position in Toast during the 2nd quarter valued at about $465,000. Finally, Advisory Services Network LLC increased its position in Toast by 17.4% during the 2nd quarter. Advisory Services Network LLC now owns 11,237 shares of the company’s stock valued at $549,000 after purchasing an additional 1,667 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Company Profile

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.