Toast, Inc. (NYSE:TOST) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Toast, Inc. (NYSE:TOST) have been assigned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $45.2857.

TOST has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Keefe, Bruyette & Woods cut their price objective on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. DA Davidson set a $42.00 target price on Toast in a research note on Wednesday, November 5th. JPMorgan Chase & Co. dropped their target price on Toast from $52.00 to $43.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, Truist Financial cut their price target on Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th.

Insider Buying and Selling

In other news, General Counsel Brian R. Elworthy sold 4,987 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $177,337.72. Following the completion of the sale, the general counsel owned 227,924 shares of the company’s stock, valued at approximately $8,104,977.44. This trade represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 7,550 shares of Toast stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $268,478.00. Following the completion of the sale, the president owned 898,475 shares of the company’s stock, valued at approximately $31,949,771. This trade represents a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 49,759 shares of company stock worth $1,769,270 over the last 90 days. 12.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Toast

Several large investors have recently modified their holdings of the stock. Allianz Asset Management GmbH raised its stake in Toast by 408.8% during the first quarter. Allianz Asset Management GmbH now owns 106,672 shares of the company’s stock valued at $3,538,000 after buying an additional 85,705 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Toast by 7.0% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 67,415 shares of the company’s stock valued at $2,236,000 after acquiring an additional 4,437 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Toast by 9.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 9,821 shares of the company’s stock valued at $326,000 after acquiring an additional 839 shares in the last quarter. Cetera Investment Advisers lifted its stake in Toast by 22.1% during the first quarter. Cetera Investment Advisers now owns 64,995 shares of the company’s stock worth $2,156,000 after purchasing an additional 11,747 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Toast by 8.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 85,015 shares of the company’s stock worth $2,820,000 after purchasing an additional 6,673 shares during the period. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE:TOST opened at $33.27 on Wednesday. The business’s 50-day simple moving average is $36.83 and its 200 day simple moving average is $41.37. The company has a market cap of $17.13 billion, a P/E ratio of 77.37 and a beta of 1.94. Toast has a one year low of $28.12 and a one year high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the business earned $0.07 EPS. The firm’s revenue was up 25.1% compared to the same quarter last year. Analysts predict that Toast will post 0.39 earnings per share for the current year.

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.