Toast, Inc. (NYSE:TOST) Receives $39.00 Consensus PT from Brokerages

Toast, Inc. (NYSE:TOST) has been assigned an average recommendation of “Moderate Buy” from the twenty-seven research firms that are presently covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $39.00.

Several research firms have recently weighed in on TOST. BMO Capital Markets increased their price target on Toast from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Citigroup increased their target price on Toast from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Mizuho dropped their target price on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Barclays boosted their price target on Toast from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Robert W. Baird boosted their target price on shares of Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th.

Toast Trading Up 0.4%

Toast stock opened at $35.28 on Friday. Toast has a 12 month low of $22.26 and a 12 month high of $45.64. The stock has a fifty day simple moving average of $31.57 and a two-hundred day simple moving average of $28.33. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of 45.23 and a beta of 1.72.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. On average, equities research analysts forecast that Toast will post 1 EPS for the current fiscal year.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 85,280 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $36.34, for a total transaction of $3,099,075.20. Following the completion of the transaction, the executive directly owned 69,966 shares in the company, valued at approximately $2,542,564.44. The trade was a 54.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of Toast stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.38, for a total transaction of $4,240,045.34. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 508,253 shares of company stock worth $17,688,694 in the last three months. Corporate insiders own 10.03% of the company’s stock.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bayban bought a new stake in Toast in the 4th quarter valued at $25,000. SHP Wealth Management bought a new position in shares of Toast during the 4th quarter valued at about $29,000. Strive Financial Group LLC purchased a new position in shares of Toast during the fourth quarter valued at about $29,000. Silicon Valley Capital Partners purchased a new position in shares of Toast during the fourth quarter valued at about $36,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Toast by 2,083.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares during 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.