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

Toast, Inc. (NYSE:TOST) has received a consensus rating of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $34.81.

A number of research firms recently weighed in on TOST. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. DA Davidson reaffirmed a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. Piper Sandler raised their price objective on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, Bank of America boosted their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the sale, the general counsel now owns 177,836 shares in the company, valued at $5,404,436.04. This represents a 62.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Yuan sold 189,785 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the sale, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,149,075 shares of company stock valued at $39,389,680 in the last three months. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TOST. Toth Financial Advisory Corp purchased a new stake in shares of Toast in the third quarter worth $28,000. Raleigh Capital Management Inc. lifted its stake in Toast by 93.4% during the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 720 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Toast in the 3rd quarter valued at $59,000. Finally, Truvestments Capital LLC purchased a new stake in Toast during the third quarter valued at about $65,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of NYSE TOST opened at $37.60 on Friday. Toast has a 1 year low of $16.13 and a 1 year high of $44.12. The firm has a market cap of $17.71 billion, a PE ratio of -289.23, a price-to-earnings-growth ratio of 23.40 and a beta of 1.93. The company has a 50 day simple moving average of $37.83 and a 200 day simple moving average of $30.14.

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.