Toast, Inc. (NYSE:TOST) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Toast, Inc. (NYSE:TOST) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $39.12.

A number of research firms recently commented on TOST. DA Davidson upped their price target on shares of Toast from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Needham & Company LLC raised their price target on shares of Toast from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada boosted their price objective on shares of Toast from $36.00 to $44.00 and gave the company a “sector perform” rating in a research report on Monday, August 31st. Jefferies Financial Group set a $40.00 price objective on shares of Toast in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a report on Saturday.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the sale, the executive directly owned 69,966 shares in the company, valued at approximately $2,542,564.44. This trade represents a 54.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 124,542 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total value of $4,395,087.18. Following the transaction, the chief executive officer directly owned 175,458 shares in the company, valued at $6,191,912.82. This trade represents a 41.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 522,533 shares of company stock worth $18,172,786 in the last 90 days. Company insiders own 10.03% of the company’s stock.

Institutional Trading of Toast

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Talon Private Wealth LLC purchased a new position in Toast during the 2nd quarter valued at $837,000. Junto Capital Management LP purchased a new stake in shares of Toast in the 2nd quarter worth about $54,320,000. Tidal Investments LLC boosted its stake in shares of Toast by 31.9% during the 2nd quarter. Tidal Investments LLC now owns 18,071 shares of the company’s stock valued at $503,000 after purchasing an additional 4,372 shares in the last quarter. Scholtz & Company LLC bought a new stake in shares of Toast during the 2nd quarter valued at about $2,321,000. Finally, Integrated Wealth Concepts LLC increased its position in shares of Toast by 454.2% during the second quarter. Integrated Wealth Concepts LLC now owns 51,196 shares of the company’s stock valued at $1,424,000 after buying an additional 41,959 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $30.40 on Tuesday. The business’s 50 day simple moving average is $33.03 and its two-hundred day simple moving average is $28.92. The stock has a market capitalization of $15.62 billion, a P/E ratio of 38.97 and a beta of 1.72. Toast has a one year low of $22.26 and a one year high of $39.72.

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

About Toast

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.