Mizuho Cuts Toast (NYSE:TOST) Price Target to $45.00

Toast (NYSE:TOST) had its price target cut by Mizuho from $57.00 to $45.00 in a research report report published on Tuesday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on TOST. Morgan Stanley set a $51.00 target price on shares of Toast in a research note on Friday, February 13th. JPMorgan Chase & Co. upgraded shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a research report on Thursday, December 4th. Oppenheimer lowered their target price on shares of Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. DA Davidson cut their price target on Toast from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Finally, Wolfe Research cut Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Toast has an average rating of “Moderate Buy” and an average target price of $40.71.

Toast Stock Performance

NYSE:TOST opened at $27.66 on Tuesday. The firm’s fifty day moving average is $32.95 and its two-hundred day moving average is $36.70. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 51.23 and a beta of 1.93. Toast has a one year low of $25.91 and a one year high of $49.66.

Toast (NYSE:TOST) last posted its earnings results on Thursday, February 12th. The company reported $0.16 EPS 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 $1.62 billion. Toast had a return on equity of 18.86% and a net margin of 5.56%.The firm’s revenue was up 22.0% on a year-over-year basis. During the same period last year, the business earned $0.05 earnings per share. As a group, equities research analysts predict that Toast will post 0.39 earnings per share for the current fiscal year.

Toast announced that its board has initiated a share buyback program on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 1,648 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $50,000.32. Following the transaction, the chief executive officer directly owned 340,723 shares in the company, valued at approximately $10,337,535.82. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 1,454 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $44,114.36. Following the sale, the executive directly owned 139,893 shares of the company’s stock, valued at approximately $4,244,353.62. This represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 100,856 shares of company stock valued at $3,540,449. Corporate insiders own 12.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC purchased a new stake in Toast in the 3rd quarter valued at about $27,000. Strive Financial Group LLC purchased a new stake in shares of Toast in the 4th quarter valued at approximately $29,000. RiverPark Advisors LLC acquired a new position in shares of Toast in the 2nd quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new position in shares of Toast in the 3rd quarter worth approximately $30,000. Finally, Central Pacific Bank Trust Division boosted its position in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

About Toast

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.