Robert W. Baird Downgrades Toast (NYSE:TOST) to Neutral

Robert W. Baird lowered shares of Toast (NYSE:TOST) from an outperform rating to a neutral rating in a report published on Tuesday, Marketbeat reports. Robert W. Baird currently has $28.00 price objective on the stock.

Several other research firms have also commented on TOST. Mizuho increased their price objective on shares of Toast from $17.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, May 9th. Canaccord Genuity Group increased their price objective on shares of Toast from $22.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Evercore ISI initiated coverage on shares of Toast in a research note on Monday, March 4th. They issued an outperform rating and a $32.00 price objective for the company. Piper Sandler increased their price objective on shares of Toast from $20.00 to $25.00 and gave the company a neutral rating in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Toast from $26.00 to $29.00 and gave the company a buy rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Toast has an average rating of Hold and a consensus target price of $26.00.

Toast Stock Performance

Shares of NYSE TOST opened at $25.39 on Tuesday. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of -50.77 and a beta of 1.77. The firm’s 50-day simple moving average is $24.27 and its 200 day simple moving average is $20.34.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) EPS. On average, sell-side analysts predict that Toast will post -0.16 EPS for the current year.

Insider Buying and Selling at Toast

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider James Michael Matlock sold 4,151 shares of Toast stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $23.19, for a total transaction of $96,261.69. Following the completion of the sale, the insider now directly owns 46,510 shares of the company’s stock, valued at approximately $1,078,566.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the sale, the executive now directly owns 22,956 shares of the company’s stock, valued at $579,409.44. The disclosure for this sale can be found here. Insiders sold a total of 193,010 shares of company stock valued at $4,711,760 in the last three months. Company insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of hedge funds have recently made changes to their positions in TOST. LRI Investments LLC purchased a new position in Toast in the 1st quarter worth $27,000. Principal Securities Inc. purchased a new position in Toast in the 4th quarter worth $30,000. Cape Investment Advisory Inc. purchased a new position in Toast in the 4th quarter worth $31,000. SRS Capital Advisors Inc. purchased a new position in Toast in the 3rd quarter worth $33,000. Finally, Larson Financial Group LLC raised its position in Toast by 8,181.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock worth $34,000 after purchasing an additional 1,800 shares during the period. 82.91% of the stock is owned by institutional investors.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.