Toast, Inc. (NYSE:TOST) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Toast, Inc. (NYSE:TOST) have been given a consensus recommendation of “Moderate Buy” by the twenty-four brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $40.4583.

TOST has been the topic of several recent research reports. Evercore upgraded Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Tuesday, January 20th. Canaccord Genuity Group set a $37.00 target price on Toast in a report on Friday, February 13th. Wells Fargo & Company cut their target price on Toast from $47.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Citigroup lowered their price target on Toast from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Truist Financial set a $36.00 price target on shares of Toast in a research note on Wednesday, February 25th.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 3,303 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $113,557.14. Following the completion of the sale, the general counsel owned 235,757 shares of the company’s stock, valued at $8,105,325.66. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aman Narang sold 1,648 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $50,000.32. Following the completion of the transaction, the chief executive officer directly owned 340,723 shares in the company, valued at $10,337,535.82. This trade represents a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 100,856 shares of company stock valued at $3,540,449. Company insiders own 12.14% of the company’s stock.

Institutional Investors Weigh In On Toast

Institutional investors have recently modified their holdings of the business. Bayban bought a new position in Toast during the 4th quarter valued at about $25,000. Quent Capital LLC purchased a new position in shares of Toast during the third quarter valued at approximately $27,000. SHP Wealth Management purchased a new position in shares of Toast during the fourth quarter valued at approximately $29,000. Strive Financial Group LLC bought a new position in Toast during the fourth quarter valued at approximately $29,000. Finally, RiverPark Advisors LLC purchased a new stake in Toast in the second quarter worth approximately $30,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Price Performance

Shares of Toast stock opened at $30.54 on Friday. The company has a 50-day moving average of $31.28 and a 200 day moving average of $35.50. The firm has a market cap of $16.00 billion, a price-to-earnings ratio of 56.56 and a beta of 1.95. Toast has a 1 year low of $24.35 and a 1 year high of $49.66.

Toast (NYSE:TOST) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 18.14% and a net margin of 5.56%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the firm earned $0.05 EPS. The company’s revenue was up 22.0% on a year-over-year basis. On average, equities analysts anticipate that Toast will post 0.39 EPS for the current year.

Toast declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.