Toast, Inc. (NYSE:TOST) Receives $46.17 Consensus Target Price from Brokerages

Shares of Toast, Inc. (NYSE:TOST) have received an average recommendation of “Moderate Buy” from the twenty-four research firms that are currently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $45.6364.

TOST has been the subject of several recent analyst reports. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Canaccord Genuity Group lifted their target price on shares of Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Barclays reissued an “overweight” rating on shares of Toast in a research report on Wednesday, July 16th. UBS Group decreased their price target on shares of Toast from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research note on Wednesday, October 8th.

Insider Buying and Selling at Toast

In other news, CEO Aman Narang sold 1,732 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $61,555.28. Following the transaction, the chief executive officer directly owned 319,939 shares of the company’s stock, valued at approximately $11,370,632.06. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elena Gomez sold 2,021 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $71,826.34. Following the completion of the transaction, the chief financial officer owned 151,463 shares of the company’s stock, valued at approximately $5,382,995.02. The trade was a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 62,259 shares of company stock worth $2,299,020. 12.14% of the stock is owned by corporate insiders.

Institutional Trading of Toast

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFM Investors Pty Ltd grew its holdings in Toast by 29.2% during the second quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after acquiring an additional 18,950 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in Toast in the 2nd quarter worth approximately $1,329,000. Charles Schwab Investment Management Inc. grew its stake in shares of Toast by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after purchasing an additional 153,723 shares during the period. Principal Financial Group Inc. grew its stake in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after purchasing an additional 5,436,317 shares during the period. Finally, Comerica Bank increased its holdings in shares of Toast by 122.9% during the 1st quarter. Comerica Bank now owns 76,644 shares of the company’s stock valued at $2,542,000 after purchasing an additional 42,266 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 1.7%

NYSE TOST opened at $36.99 on Friday. The firm’s fifty day simple moving average is $38.33 and its two-hundred day simple moving average is $41.37. The firm has a market capitalization of $19.05 billion, a P/E ratio of 86.02 and a beta of 1.94. Toast has a 12-month low of $28.12 and a 12-month high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 25.1% on a year-over-year basis. As a group, sell-side analysts predict that Toast will post 0.39 earnings per share for the current fiscal year.

Toast Company Profile

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.