Toast (NYSE:TOST) Price Target Raised to $33.00 at Truist Financial

Toast (NYSE:TOST) had its target price boosted by Truist Financial from $30.00 to $33.00 in a report issued on Friday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on TOST. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 price target on shares of Toast in a research note on Tuesday, May 12th. Barclays started coverage on shares of Toast in a report on Tuesday, July 7th. They issued an “overweight” rating and a $35.00 target price for the company. Citigroup cut their price target on shares of Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Mizuho decreased their price objective on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Finally, Robert W. Baird raised their price objective on Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.08.

Toast Stock Performance

Toast stock opened at $29.07 on Friday. The company’s 50 day simple moving average is $26.56 and its 200-day simple moving average is $28.05. Toast has a 1 year low of $22.26 and a 1 year high of $49.66. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of 44.72 and a beta of 1.74.

Toast (NYSE:TOST) last released its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). Toast had a net margin of 6.39% and a return on equity of 20.86%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. Equities analysts expect that Toast will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 3,150 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $30.03, for a total value of $94,594.50. Following the completion of the sale, the executive directly owned 69,966 shares in the company, valued at approximately $2,101,078.98. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Stephen Fredette sold 9,146 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $263,862.10. Following the sale, the president owned 931,449 shares in the company, valued at approximately $26,872,303.65. The trade was a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 159,265 shares of company stock valued at $4,278,832. 10.03% of the stock is owned by corporate insiders.

Institutional Trading of Toast

Several large investors have recently modified their holdings of the business. Bayban purchased a new position in shares of Toast during the 4th quarter valued at approximately $25,000. SHP Wealth Management acquired a new stake in Toast in the fourth quarter valued at $29,000. Strive Financial Group LLC bought a new position in Toast during the 4th quarter valued at $29,000. Silicon Valley Capital Partners bought a new position in Toast during the 4th quarter valued at $36,000. Finally, Quadrant Capital Group LLC grew its holdings in Toast by 2,083.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Company Profile

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.