Toast, Inc. (NYSE:TOST) Receives $37.84 Average PT from Analysts

Toast, Inc. (NYSE:TOST) has been assigned a consensus rating of “Moderate Buy” from the twenty-five brokerages that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $37.84.

A number of equities analysts have weighed in on the company. Mizuho decreased their target price on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Sanford C. Bernstein set a $39.00 target price on Toast in a report on Monday, February 16th. Truist Financial dropped their price objective on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Needham & Company LLC dropped their price objective on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Jefferies Financial Group set a $35.00 price objective on Toast in a report on Friday, February 13th.

Toast Stock Up 0.8%

Shares of NYSE TOST opened at $23.35 on Wednesday. The firm has a market capitalization of $12.05 billion, a P/E ratio of 35.92 and a beta of 1.81. The stock’s 50-day simple moving average is $26.45 and its two-hundred day simple moving average is $30.49. Toast has a twelve month low of $22.26 and a twelve month high of $49.66.

Toast announced that its board has authorized a stock repurchase program on Thursday, February 12th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 13,463 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 value of $352,595.97. Following the completion of the sale, the chief executive officer owned 54,013 shares in the company, valued at approximately $1,414,600.47. This trade represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 8,929 shares of the firm’s 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 $233,850.51. Following the completion of the transaction, the chief financial officer owned 173,064 shares of the company’s stock, valued at approximately $4,532,546.16. The trade was a 4.91% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 39,783 shares of company stock worth $1,041,917. Insiders own 12.14% of the company’s stock.

Institutional Trading of Toast

A number of institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its holdings in shares of Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after acquiring an additional 16,379 shares during the period. Cerity Partners LLC lifted its position in Toast by 24.0% during the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after purchasing an additional 15,774 shares in the last quarter. State Street Corp lifted its position in Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after purchasing an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in Toast during the second quarter valued at $4,479,000. Finally, Sei Investments Co. lifted its position in Toast by 24.6% during the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after purchasing an additional 203,404 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

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.