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

Shares of Toast, Inc. (NYSE:TOST) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven ratings firms that are covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.3077.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley set a $45.00 target price on Toast in a research note on Friday, May 8th. Citigroup increased their target price on Toast from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Truist Financial raised their price target on shares of Toast from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Thursday, July 9th. Finally, Needham & Company LLC upped their price target on shares of Toast from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, August 5th.

Toast Stock Down 1.5%

Shares of Toast stock opened at $33.59 on Friday. Toast has a fifty-two week low of $22.26 and a fifty-two week high of $44.47. The firm has a market cap of $17.27 billion, a PE ratio of 43.06 and a beta of 1.72. The business’s fifty day moving average is $31.95 and its two-hundred day moving average is $28.40.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. Equities research analysts anticipate that Toast will post 1 EPS for the current year.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the completion of the transaction, the executive directly owned 69,966 shares in the company, valued at approximately $2,542,564.44. This trade represents a 54.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 124,542 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total value of $4,395,087.18. Following the completion of the sale, the chief executive officer directly owned 175,458 shares of the company’s stock, valued at approximately $6,191,912.82. This represents a 41.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 508,253 shares of company stock valued at $17,688,694. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On Toast

Several large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in shares of Toast by 2,643.0% during the second quarter. California State Teachers Retirement System now owns 17,903,895 shares of the company’s stock valued at $498,086,000 after purchasing an additional 17,251,171 shares during the period. Jennison Associates LLC grew its position in Toast by 1.0% in the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after buying an additional 157,394 shares in the last quarter. Morgan Stanley increased its stake in Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock valued at $368,332,000 after buying an additional 653,487 shares during the period. State Street Corp increased its stake in Toast by 3.0% during the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after buying an additional 282,282 shares during the period. Finally, XN LP raised its holdings in Toast by 50.8% during the fourth quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after purchasing an additional 3,029,856 shares in the last quarter. 82.91% of the stock is 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.