Mizuho Reaffirms “Neutral” Rating for Toast (NYSE:TOST)

Mizuho reissued their neutral rating on shares of Toast (NYSE:TOST) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $17.00 price target on the stock.

Several other equities research analysts have also issued reports on the company. The Goldman Sachs Group raised Toast from a neutral rating to a buy rating and upped their price target for the company from $16.00 to $24.00 in a research report on Wednesday, January 10th. Royal Bank of Canada upped their price target on Toast from $19.00 to $23.00 and gave the company a sector perform rating in a research report on Friday, February 16th. Redburn Atlantic raised Toast from a neutral rating to a buy rating and set a $28.00 target price on the stock in a research report on Wednesday, February 7th. Evercore ISI initiated coverage on Toast in a research report on Monday, March 4th. They issued an outperform rating and a $32.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on Toast from $12.00 to $15.00 and gave the stock an underweight rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of Hold and a consensus price target of $23.20.

Toast Stock Up 2.4 %

Shares of TOST opened at $24.92 on Wednesday. The business’s 50 day moving average is $21.55 and its two-hundred day moving average is $18.64. Toast has a 52-week low of $13.77 and a 52-week high of $27.00. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of -48.86 and a beta of 1.78.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. Toast’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.19) EPS. On average, equities analysts expect that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 11,650 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total transaction of $202,593.50. Following the completion of the transaction, the chief financial officer now owns 170,314 shares of the company’s stock, valued at $2,961,760.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Elena Gomez sold 11,650 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total transaction of $202,593.50. Following the completion of the sale, the chief financial officer now directly owns 170,314 shares of the company’s stock, valued at $2,961,760.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aman Narang sold 2,871 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $17.39, for a total value of $49,926.69. Following the sale, the chief executive officer now directly owns 1,156,538 shares of the company’s stock, valued at $20,112,195.82. The disclosure for this sale can be found here. Insiders sold 359,444 shares of company stock valued at $7,276,642 over the last 90 days. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several hedge funds have recently modified their holdings of TOST. Advisor Group Holdings Inc. lifted its stake in Toast by 4.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 12,738 shares of the company’s stock worth $229,000 after acquiring an additional 530 shares in the last quarter. Brown Advisory Inc. lifted its stake in Toast by 2.6% in the 3rd quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock worth $503,000 after acquiring an additional 675 shares in the last quarter. Raymond James & Associates lifted its stake in Toast by 5.1% in the 4th quarter. Raymond James & Associates now owns 14,889 shares of the company’s stock worth $268,000 after acquiring an additional 725 shares in the last quarter. Trinity Financial Advisors LLC lifted its stake in Toast by 3.7% in the 3rd quarter. Trinity Financial Advisors LLC now owns 21,135 shares of the company’s stock worth $396,000 after acquiring an additional 747 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Toast by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after acquiring an additional 774 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.