Oppenheimer Cuts Toast (NYSE:TOST) Price Target to $48.00

Toast (NYSE:TOST) had its price target cut by Oppenheimer from $49.00 to $48.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

TOST has been the topic of several other research reports. Wolfe Research lowered Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Truist Financial lowered their target price on Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. The Goldman Sachs Group cut their target price on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Morgan Stanley lifted their price target on shares of Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group lowered their price objective on shares of Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus price target of $45.27.

Toast Trading Up 2.5%

NYSE:TOST opened at $35.68 on Monday. Toast has a 12 month low of $28.12 and a 12 month high of $49.66. The stock has a market capitalization of $18.37 billion, a price-to-earnings ratio of 82.97 and a beta of 1.93. The firm has a fifty day simple moving average of $35.41 and a two-hundred day simple moving average of $39.47.

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

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 8,591 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $295,358.58. Following the transaction, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at $11,649,663. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $113,557.14. Following the transaction, the general counsel owned 235,757 shares in the company, valued at approximately $8,105,325.66. This trade represents a 1.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 102,595 shares of company stock worth $3,634,737. 12.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Toast in the 3rd quarter worth approximately $27,000. RiverPark Advisors LLC bought a new stake in Toast during the second quarter worth $30,000. Alpine Bank Wealth Management purchased a new position in Toast in the third quarter worth $30,000. Ameritas Advisory Services LLC purchased a new position in Toast in the second quarter worth $31,000. Finally, Central Pacific Bank Trust Division grew its stake in Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.