Toast, Inc. (NYSE:TOST) Receives $45.18 Consensus Price Target from Analysts

Toast, Inc. (NYSE:TOST) has received an average recommendation of “Moderate Buy” from the twenty-four analysts that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $45.1818.

Several research firms have weighed in on TOST. Truist Financial dropped their price target on Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. Wolfe Research reissued an “outperform” rating and set a $48.00 target price on shares of Toast in a research note on Wednesday, November 5th. UBS Group restated a “buy” rating on shares of Toast in a research note on Thursday, December 18th. Finally, BNP Paribas Exane raised Toast from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Monday, December 1st.

Toast Trading Down 0.1%

Shares of NYSE TOST opened at $36.45 on Friday. The stock’s fifty day simple moving average is $35.83 and its two-hundred day simple moving average is $40.12. Toast has a 12-month low of $28.12 and a 12-month high of $49.66. The stock has a market capitalization of $18.77 billion, a PE ratio of 84.76 and a beta of 1.94.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm earned $0.07 EPS. The company’s revenue was up 25.1% compared to the same quarter last year. On average, equities analysts predict that Toast will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the transaction, the president directly owned 898,475 shares of the company’s stock, valued at approximately $31,949,771. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Aman Narang sold 13,652 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $485,465.12. Following the completion of the transaction, the chief executive officer directly owned 318,150 shares in the company, valued at $11,313,414. This trade represents a 4.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 49,759 shares of company stock valued at $1,769,270. 12.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently bought and sold shares of TOST. Raymond James Financial Inc. raised its position in shares of Toast by 3.1% during the 1st quarter. Raymond James Financial Inc. now owns 607,094 shares of the company’s stock valued at $20,137,000 after buying an additional 18,213 shares during the period. Northern Trust Corp increased its stake in Toast by 3.2% during the first quarter. Northern Trust Corp now owns 2,881,962 shares of the company’s stock worth $95,595,000 after acquiring an additional 90,221 shares during the last quarter. Wellington Management Group LLP increased its stake in Toast by 102.6% during the first quarter. Wellington Management Group LLP now owns 37,469 shares of the company’s stock worth $1,243,000 after acquiring an additional 18,971 shares during the last quarter. Hsbc Holdings PLC raised its position in Toast by 16.3% in the first quarter. Hsbc Holdings PLC now owns 177,797 shares of the company’s stock valued at $5,900,000 after purchasing an additional 24,875 shares during the period. Finally, Candriam S.C.A. acquired a new position in shares of Toast in the 1st quarter valued at $3,714,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.