Toast (NYSE:TOST) Receives Buy Rating from UBS Group

UBS Group reiterated their buy rating on shares of Toast (NYSE:TOST) in a report published on Thursday,Benzinga reports. They currently have a $50.00 price target on the stock.

TOST has been the subject of several other reports. DA Davidson set a $42.00 target price on shares of Toast in a report on Wednesday, November 5th. Wolfe Research reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Toast in a research report on Wednesday, November 5th. Truist Financial lowered their price objective on Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Canaccord Genuity Group boosted their target price on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, BNP Paribas raised Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.18.

Toast Trading Down 0.0%

TOST opened at $35.16 on Thursday. The company has a market cap of $18.11 billion, a price-to-earnings ratio of 81.77 and a beta of 1.94. The stock has a fifty day simple moving average of $36.14 and a two-hundred day simple moving average of $40.92. Toast has a 12-month low of $28.12 and a 12-month high of $49.66.

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

Insider Activity

In related news, CFO Elena Gomez sold 9,054 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $321,960.24. Following the sale, the chief financial officer directly owned 149,572 shares of the company’s stock, valued at $5,318,780.32. This trade represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 4,987 shares of Toast stock in a transaction that occurred on Thursday, October 2nd. The stock was 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 $8,104,977.44. This represents a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 49,759 shares of company stock valued at $1,769,270. Corporate insiders own 12.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Avantax Advisory Services Inc. lifted its stake in shares of Toast by 9.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,821 shares of the company’s stock worth $326,000 after purchasing an additional 839 shares during the period. Cetera Investment Advisers increased its holdings in Toast by 22.1% during the first quarter. Cetera Investment Advisers now owns 64,995 shares of the company’s stock valued at $2,156,000 after buying an additional 11,747 shares during the last quarter. LPL Financial LLC raised its position in Toast by 14.4% in the first quarter. LPL Financial LLC now owns 135,044 shares of the company’s stock worth $4,479,000 after acquiring an additional 17,026 shares during the period. US Bancorp DE raised its position in Toast by 23.3% in the first quarter. US Bancorp DE now owns 51,513 shares of the company’s stock worth $1,709,000 after acquiring an additional 9,748 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Toast by 71.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,977 shares of the company’s stock worth $397,000 after acquiring an additional 4,989 shares during the last quarter. 82.91% of the stock is 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.