Toast (NYSE:TOST) Shares Gap Up to $27.33

Toast, Inc. (NYSE:TOST) shares gapped up prior to trading on Friday . The stock had previously closed at $27.33, but opened at $28.50. Toast shares last traded at $29.84, with a volume of 1,759,438 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on TOST shares. The Goldman Sachs Group restated a “buy” rating and set a $29.00 price target on shares of Toast in a report on Thursday, September 12th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. JPMorgan Chase & Co. lifted their price target on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Bank of America increased their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, Wedbush raised Toast to a “strong-buy” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Toast has an average rating of “Moderate Buy” and an average target price of $28.33.

Toast Trading Up 5.8 %

The business has a 50-day moving average of $25.16 and a 200 day moving average of $24.67. The firm has a market capitalization of $13.33 billion, a PE ratio of -58.72 and a beta of 1.75.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. The business’s revenue was up 27.0% compared to the same quarter last year. On average, sell-side analysts expect that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Stephen Fredette sold 211,686 shares of the 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 transaction, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Jonathan Vassil sold 1,541 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $36,984.00. Following the sale, the executive now owns 33,312 shares of the company’s stock, valued at approximately $799,488. The disclosure for this sale can be found here. In the last 90 days, insiders sold 804,707 shares of company stock worth $20,382,344. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of hedge funds have recently modified their holdings of the stock. Truist Financial Corp purchased a new stake in Toast in the second quarter worth $618,000. Kampmann Melissa S. purchased a new stake in Toast in the 2nd quarter worth about $1,122,000. Northwestern Mutual Wealth Management Co. raised its stake in Toast by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after acquiring an additional 421 shares during the period. Ascent Group LLC purchased a new stake in Toast during the second quarter valued at about $333,000. Finally, Scientech Research LLC bought a new position in Toast during the second quarter worth about $236,000. Institutional investors own 82.91% of the company’s stock.

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.