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

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

A number of other research analysts have also weighed in on TOST. UBS Group dropped their target price on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citigroup lowered their price target on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Morgan Stanley set a $45.00 price objective on Toast in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Finally, Loop Capital assumed coverage on shares of Toast in a report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price objective on the stock. Two equities 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.08.

Toast Price Performance

TOST opened at $29.07 on Friday. Toast has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The firm has a market capitalization of $15.00 billion, a PE ratio of 44.72 and a beta of 1.74. The company’s 50-day moving average is $26.56 and its 200 day moving average is $28.00.

Toast (NYSE:TOST) last announced its quarterly 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). The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. Toast’s revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. As a group, analysts expect that Toast will post 0.97 EPS for the current year.

Insider Activity at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 6,352 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $183,255.20. Following the transaction, the general counsel owned 196,909 shares of the company’s stock, valued at approximately $5,680,824.65. The trade was a 3.13% 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 sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,605 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $334,804.25. Following the completion of the transaction, the chief financial officer owned 185,150 shares of the company’s stock, valued at $5,341,577.50. This trade represents a 5.90% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 159,265 shares of company stock valued at $4,278,832 in the last ninety days. Insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On Toast

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

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.