Analysts Set Toast, Inc. (NYSE:TOST) Target Price at $37.62

Shares of Toast, Inc. (NYSE:TOST) have been given an average rating of “Moderate Buy” by the twenty-seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $37.6154.

Several equities analysts have recently commented on the company. Rothschild & Co Redburn reiterated a “neutral” rating and set a $35.00 target price on shares of Toast in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Mizuho reduced their target price on Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. DA Davidson reduced their target price on Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th.

Toast Trading Down 0.1%

Toast stock opened at $24.65 on Friday. The stock has a market cap of $12.72 billion, a P/E ratio of 37.92 and a beta of 1.76. The stock has a 50 day moving average of $25.81 and a 200-day moving average of $29.26. Toast has a 52 week low of $22.26 and a 52 week high of $49.66.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 6,438 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $168,611.22. Following the completion of the transaction, the executive directly owned 146,618 shares in the company, valued at approximately $3,839,925.42. This represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 7,289 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $190,898.91. Following the transaction, the president owned 920,985 shares of the company’s stock, valued at approximately $24,120,597.15. This trade represents a 0.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 147,783 shares of company stock worth $3,838,037. 10.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Institutional investors and hedge funds have recently made changes to their positions in the company. Bayban acquired a new stake in shares of Toast during the 4th quarter valued at approximately $25,000. SHP Wealth Management acquired a new stake in shares of Toast during the 4th quarter valued at approximately $29,000. Strive Financial Group LLC acquired a new stake in shares of Toast during the 4th quarter valued at approximately $29,000. Central Pacific Bank Trust Division raised its position in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after acquiring an additional 521 shares in the last quarter. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Toast during the 4th quarter valued at approximately $36,000. 82.91% of the stock is owned by institutional investors and hedge funds.

About Toast

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.