Toast, Inc. (NYSE:TOST) Stock Has Average Price Target of $39.12 According to Brokerages

Shares of Toast, Inc. (NYSE:TOST) have earned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are covering the stock, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $39.12.

TOST has been the subject of a number of research reports. BMO Capital Markets lifted their price target on Toast from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Wells Fargo & Company increased their target price on Toast from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. BNP Paribas Exane downgraded Toast from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $35.00 in a report on Wednesday, September 2nd. The Goldman Sachs Group upgraded Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, July 9th. Finally, Piper Sandler boosted their price target on Toast from $32.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 85,280 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $36.34, for a total transaction of $3,099,075.20. Following the sale, the executive directly owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. This represents a 54.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 16,176 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total transaction of $570,851.04. Following the completion of the transaction, the chief financial officer owned 168,974 shares in the company, valued at approximately $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 522,533 shares of company stock valued at $18,172,786 over the last 90 days. 10.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

Institutional investors and hedge funds have recently bought and sold shares of the business. Talon Private Wealth LLC acquired a new position in Toast during the 2nd quarter valued at approximately $837,000. Junto Capital Management LP bought a new stake in Toast in the second quarter valued at $54,320,000. Tidal Investments LLC boosted its holdings in shares of Toast by 31.9% during the second quarter. Tidal Investments LLC now owns 18,071 shares of the company’s stock valued at $503,000 after acquiring an additional 4,372 shares during the period. Scholtz & Company LLC bought a new position in shares of Toast during the second quarter worth about $2,321,000. Finally, Integrated Wealth Concepts LLC grew its position in shares of Toast by 454.2% during the second quarter. Integrated Wealth Concepts LLC now owns 51,196 shares of the company’s stock worth $1,424,000 after acquiring an additional 41,959 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Price Performance

NYSE TOST opened at $30.70 on Tuesday. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 39.36 and a beta of 1.72. Toast has a 12 month low of $22.26 and a 12 month high of $39.72. The company’s fifty day moving average price is $33.04 and its two-hundred day moving average price is $28.91.

Toast (NYSE:TOST) last released its earnings results 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). The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.Toast’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 EPS. As a group, analysts anticipate that Toast will post 1 EPS for the current year.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.