Toast, Inc. (NYSE:TOST) Receives $28.78 Consensus Target Price from Analysts

Shares of Toast, Inc. (NYSE:TOST) have earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $28.94.

Several analysts recently issued reports on TOST shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 price target on shares of Toast in a research report on Wednesday, August 7th. Stephens raised their target price on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Morgan Stanley upped their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th.

Insider Activity at Toast

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $27,048.00. Following the transaction, the president now owns 2,849,709 shares in the company, valued at $68,393,016. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the sale, the general counsel now owns 177,836 shares of the company’s stock, valued at approximately $5,404,436.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,387,269 shares of company stock worth $38,394,140 over the last three months. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TOST. Whale Rock Capital Management LLC bought a new stake in Toast in the first quarter worth approximately $179,111,000. Assenagon Asset Management S.A. increased its stake in shares of Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after acquiring an additional 3,701,893 shares in the last quarter. Capital International Investors lifted its position in shares of Toast by 12.2% during the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after acquiring an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after acquiring an additional 3,445,788 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after purchasing an additional 1,604,716 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Trading Up 2.7 %

Shares of TOST stock opened at $30.03 on Tuesday. The stock has a market cap of $13.84 billion, a P/E ratio of -103.55 and a beta of 1.76. Toast has a 1 year low of $13.77 and a 1 year high of $30.70. The stock has a 50 day simple moving average of $26.66 and a 200 day simple moving average of $25.33.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share 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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company posted ($0.19) EPS. The company’s revenue was up 27.0% compared to the same quarter last year. Analysts forecast that Toast will post -0.1 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.