Toast, Inc. (NYSE:TOST) Receives $40.46 Consensus PT from Analysts

Toast, Inc. (NYSE:TOST) has been assigned a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $40.4583.

TOST has been the subject of several recent research reports. The Goldman Sachs Group reduced their target price on shares of Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. Oppenheimer cut their price target on Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Mizuho reduced their price objective on Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Finally, Wells Fargo & Company decreased their price objective on Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, February 13th.

Insider Activity

In related news, President Stephen Fredette sold 4,866 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $167,293.08. Following the sale, the president owned 910,606 shares in the company, valued at approximately $31,306,634.28. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 8,591 shares of Toast stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $295,358.58. Following the completion of the transaction, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at $11,649,663. The trade was a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 100,856 shares of company stock worth $3,540,449. 12.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC grew its position in shares of Toast by 7.3% during the 4th quarter. Corient Private Wealth LLC now owns 38,944 shares of the company’s stock valued at $1,383,000 after acquiring an additional 2,660 shares during the period. Hsbc Holdings PLC increased its stake in shares of Toast by 16.8% in the 4th quarter. Hsbc Holdings PLC now owns 181,371 shares of the company’s stock valued at $6,455,000 after purchasing an additional 26,032 shares in the last quarter. Bayban acquired a new position in Toast in the 4th quarter worth about $25,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Toast by 150.0% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,000 shares of the company’s stock worth $7,102,000 after purchasing an additional 120,000 shares during the period. Finally, SHP Wealth Management purchased a new position in Toast during the fourth quarter worth approximately $29,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Down 2.1%

Shares of NYSE:TOST opened at $28.88 on Friday. Toast has a twelve month low of $24.35 and a twelve month high of $49.66. The company’s 50 day moving average is $30.87 and its 200 day moving average is $35.12. The company has a market cap of $15.13 billion, a PE ratio of 53.48 and a beta of 1.95.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 18.14% and a net margin of 5.56%.The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the business posted $0.05 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. Equities research analysts predict that Toast will post 0.39 earnings per share for the current fiscal year.

Toast announced that its Board of Directors has approved a share repurchase program on Thursday, February 12th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.