Toast, Inc. (NYSE:TOST) Receives Average Rating of “Hold” from Brokerages

Shares of Toast, Inc. (NYSE:TOST) have been assigned an average rating of “Hold” from the twenty-two analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and eleven have assigned 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 $33.86.

Several analysts have commented on the company. Robert W. Baird lifted their price target on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley boosted their target price on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. DA Davidson increased their target price on Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Compass Point started coverage on shares of Toast in a research report on Wednesday. They issued a “buy” rating and a $49.00 price target on the stock.

Toast Price Performance

Shares of Toast stock opened at $42.49 on Friday. Toast has a 1 year low of $13.77 and a 1 year high of $42.85. The business has a 50 day moving average price of $30.45 and a 200 day moving average price of $26.83. The company has a market capitalization of $20.01 billion, a P/E ratio of -326.85, a P/E/G ratio of 51.74 and a beta of 1.74.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This represents a 62.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The trade was a 7.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,475,651 shares of company stock valued at $43,037,212. 13.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. West Branch Capital LLC bought a new position in Toast during the 2nd quarter worth $26,000. LRI Investments LLC acquired a new stake in Toast in the first quarter valued at approximately $27,000. Toth Financial Advisory Corp bought a new stake in Toast during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toast during the second quarter worth about $33,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Toast during the second quarter valued at approximately $34,000. 82.91% of the stock is currently 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.