Toast, Inc. (NYSE:TOST) Receives $41.21 Consensus Target Price from Brokerages

Toast, Inc. (NYSE:TOST) has earned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the firm, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $41.21.

TOST has been the subject of several analyst reports. DA Davidson decreased their price target on shares of Toast from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Morgan Stanley boosted their price objective on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Truist Financial started coverage on shares of Toast in a research note on Monday, June 2nd. They issued a “buy” rating and a $48.00 target price for the company. Evercore ISI began coverage on shares of Toast in a report on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on Toast from $39.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th.

Insider Buying and Selling at Toast

In other Toast news, Director Richard Kent Bennett sold 9,712 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total value of $418,975.68. Following the sale, the director directly owned 534,167 shares of the company’s stock, valued at approximately $23,043,964.38. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan Chapman-Hughes sold 7,500 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $44.00, for a total value of $330,000.00. Following the sale, the director directly owned 23,030 shares in the company, valued at $1,013,320. This represents a 24.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 468,212 shares of company stock worth $19,551,906. Corporate insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently modified their holdings of TOST. Vanguard Group Inc. grew its holdings in Toast by 3.5% during the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock worth $1,457,675,000 after acquiring an additional 1,471,352 shares during the period. Capital International Investors boosted its position in Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after purchasing an additional 785,641 shares in the last quarter. FMR LLC grew its stake in shares of Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Toast by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after purchasing an additional 3,490,686 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Toast by 7.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock valued at $514,811,000 after purchasing an additional 1,082,958 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 2.4%

Shares of NYSE:TOST opened at $43.58 on Friday. The company has a market capitalization of $21.70 billion, a PE ratio of 189.48 and a beta of 2.00. Toast has a 12-month low of $22.10 and a 12-month high of $45.56. The business’s fifty day simple moving average is $41.58 and its 200-day simple moving average is $38.33.

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.