Toast (NYSE:TOST) Shares Up 4.8% – Here’s Why

Toast, Inc. (NYSE:TOST)’s share price traded up 4.8% on Friday. The stock traded as high as $35.09 and last traded at $35.13. 2,311,479 shares traded hands during trading, a decline of 79% from the average session volume of 10,856,212 shares. The stock had previously closed at $33.52.

Analysts Set New Price Targets

A number of brokerages have issued reports on TOST. Morgan Stanley reduced their price objective on shares of Toast from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, November 4th. Weiss Ratings raised shares of Toast from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Jefferies Financial Group set a $40.00 target price on Toast in a research note on Wednesday, August 5th. Barclays upped their target price on Toast from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group set a $40.00 price target on Toast in a research report on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.46.

Toast Stock Up 4.7%

The company has a market cap of $18.21 billion, a P/E ratio of 38.57 and a beta of 1.74. The company’s 50-day moving average is $31.85 and its two-hundred day moving average is $29.42.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Toast had a return on equity of 26.39% and a net margin of 7.69%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. On average, analysts anticipate that Toast, Inc. will post 1.08 EPS for the current fiscal year.

Insider Activity

In related news, CFO Elena Gomez sold 11,886 shares of Toast stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $348,854.10. Following the sale, the chief financial officer owned 171,957 shares of the company’s stock, valued at approximately $5,046,937.95. The trade was a 6.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 85,280 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were 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 owned 69,966 shares in the company, valued at approximately $2,542,564.44. The trade was a 54.93% decrease in their position. 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. Over the last ninety days, insiders sold 202,818 shares of company stock worth $6,843,170. 10.03% of the stock is owned by insiders.

Institutional Trading of Toast

Large investors have recently bought and sold shares of the company. Armstrong Advisory Group Inc. bought a new stake in shares of Toast in the third quarter valued at $26,000. Ancora Advisors LLC purchased a new position in shares of Toast during the 2nd quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Toast during the 3rd quarter worth $32,000. Harbor Investment Advisory LLC grew its stake in shares of Toast by 213.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company’s stock worth $44,000 after acquiring an additional 1,068 shares during the period. Finally, Heritage Family Offices LLP purchased a new stake in Toast in the 3rd quarter worth about $75,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Company Profile

Toast, Inc. provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations. The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast’s products together or select services to fit their needs.