Brokerages Set Toast, Inc. (NYSE:TOST) Price Target at $28.33

Shares of Toast, Inc. (NYSE:TOST) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. 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. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $28.33.

TOST has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 price target on shares of Toast in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. The Goldman Sachs Group reissued a “buy” rating and set a $29.00 target price on shares of Toast in a research note on Thursday, September 12th. Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Morgan Stanley lifted their price target on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th.

Insider Activity at Toast

In other news, President Stephen Fredette sold 8,057 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $28.02, for a total transaction of $225,757.14. Following the sale, the president now directly owns 2,152,442 shares of the company’s stock, valued at $60,311,424.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Toast news, President Stephen Fredette sold 8,057 shares of Toast stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $28.02, for a total transaction of $225,757.14. Following the transaction, the president now directly owns 2,152,442 shares in the company, valued at approximately $60,311,424.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Jonathan Vassil sold 1,541 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $36,984.00. Following the completion of the sale, the executive now directly owns 33,312 shares of the company’s stock, valued at approximately $799,488. The disclosure for this sale can be found here. Insiders sold a total of 792,207 shares of company stock valued at $20,064,469 over the last ninety days. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its position in shares of Toast by 37.5% in the 4th quarter. US Bancorp DE now owns 52,142 shares of the company’s stock worth $952,000 after acquiring an additional 14,221 shares during the period. Hsbc Holdings PLC grew its position in shares of Toast by 76.7% during the 4th quarter. Hsbc Holdings PLC now owns 90,222 shares of the company’s stock worth $1,651,000 after buying an additional 39,166 shares during the period. TD Asset Management Inc increased its stake in Toast by 7.0% in the fourth quarter. TD Asset Management Inc now owns 115,148 shares of the company’s stock valued at $2,103,000 after purchasing an additional 7,500 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Toast by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 157,138 shares of the company’s stock worth $2,869,000 after buying an additional 1,540 shares during the period. Finally, Bank of Nova Scotia acquired a new stake in shares of Toast during the fourth quarter worth about $332,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Performance

NYSE:TOST opened at $28.00 on Friday. Toast has a 52-week low of $13.77 and a 52-week high of $29.92. The firm has a market capitalization of $12.68 billion, a PE ratio of -56.00 and a beta of 1.75. The stock has a 50-day simple moving average of $25.17 and a two-hundred day simple moving average of $24.68.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business earned ($0.19) EPS. Toast’s revenue was up 27.0% compared to the same quarter last year. Equities analysts forecast that Toast will post -0.1 earnings per share for the current fiscal 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.