Toast, Inc. (NYSE:TOST) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Toast, Inc. (NYSE:TOST) have been assigned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the company, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $41.21.

Several research analysts have weighed in on TOST shares. The Goldman Sachs Group dropped their price objective on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Robert W. Baird boosted their price objective on shares of Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Wolfe Research raised Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, April 23rd. Piper Sandler lifted their price objective on Toast from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th.

Toast Trading Down 0.2%

Shares of Toast stock opened at $43.37 on Wednesday. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of -4,332.57, a PEG ratio of 2.16 and a beta of 2.02. Toast has a twelve month low of $21.32 and a twelve month high of $45.56. The business’s 50 day simple moving average is $38.34 and its 200-day simple moving average is $38.03.

Insider Activity at Toast

In related news, Director Paul D. Bell sold 11,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the transaction, the director now directly owns 229,680 shares of the company’s stock, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the sale, the director now owns 13,260 shares of the company’s stock, valued at $437,712.60. The trade was a 72.07% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 663,563 shares of company stock worth $26,378,809. Corporate insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Toast during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Toast in the 4th quarter valued at about $35,000. Wayfinding Financial LLC purchased a new position in shares of Toast in the 1st quarter valued at about $34,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Toast in the 4th quarter valued at $40,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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.