Toast, Inc. (NYSE:TOST) Receives $40.48 Consensus Price Target from Brokerages

Toast, Inc. (NYSE:TOST) has earned a consensus rating of “Hold” from the twenty-two ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $40.48.

A number of analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. DA Davidson reaffirmed a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Toast in a research report on Thursday, December 5th. Robert W. Baird boosted their price target on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Canaccord Genuity Group boosted their price target on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Oppenheimer initiated coverage on Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target for the company.

Insider Buying and Selling at Toast

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the transaction, the director now owns 13,260 shares of the company’s stock, valued at $437,712.60. This represents a 72.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the transaction, the director now directly owns 164,796 shares of the company’s stock, valued at approximately $5,884,865.16. This trade represents a 29.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock valued at $9,409,211 in the last quarter. Corporate insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of Toast by 2.9% in the 4th quarter. California State Teachers Retirement System now owns 593,953 shares of the company’s stock worth $21,650,000 after buying an additional 16,684 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Toast by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock worth $829,000 after buying an additional 3,713 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Toast in the 4th quarter worth approximately $2,296,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Toast in the 4th quarter worth approximately $280,000. Finally, Garde Capital Inc. acquired a new position in shares of Toast in the 4th quarter worth approximately $123,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Down 1.9 %

Shares of TOST stock opened at $35.20 on Friday. Toast has a 1-year low of $21.32 and a 1-year high of $44.12. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of -3,516.78, a P/E/G ratio of 2.16 and a beta of 1.99. The stock’s fifty day simple moving average is $37.82 and its 200-day simple moving average is $35.15.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. On average, sell-side analysts predict that Toast will post 0.39 EPS for the current 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.