Toast (NYSE:TOST) Reaches New 12-Month Low – Time to Sell?

Shares of Toast, Inc. (NYSE:TOST) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.70 and last traded at $27.33, with a volume of 1012533 shares traded. The stock had previously closed at $28.25.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TOST shares. The Goldman Sachs Group dropped their price target on Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Citigroup upgraded shares of Toast to a “strong-buy” rating in a research report on Thursday, October 23rd. BNP Paribas Exane raised shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday, December 1st. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley upped their target price on shares of Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.55.

Toast Stock Performance

The firm has a 50-day moving average of $34.61 and a 200-day moving average of $38.27. The firm has a market capitalization of $14.33 billion, a P/E ratio of 64.72 and a beta of 1.93.

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

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 4,866 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $167,293.08. Following the completion of the transaction, the president directly owned 910,606 shares in the company, valued at approximately $31,306,634.28. This represents a 0.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $229,383.36. Following the transaction, the chief financial officer owned 162,153 shares in the company, valued at $5,574,820.14. This represents a 3.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 94,609 shares of company stock worth $3,350,915 over the last three months. 12.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares in the last quarter. Truist Financial Corp grew its position in shares of Toast by 34.2% in the 2nd quarter. Truist Financial Corp now owns 33,448 shares of the company’s stock worth $1,481,000 after buying an additional 8,530 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Toast in the 2nd quarter worth about $31,000. Valeo Financial Advisors LLC bought a new position in shares of Toast in the 2nd quarter worth about $209,000. Finally, SteelPeak Wealth LLC lifted its position in Toast by 32.7% during the 2nd quarter. SteelPeak Wealth LLC now owns 20,270 shares of the company’s stock valued at $898,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

About Toast

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.