Toast (NYSE:TOST) Price Target Cut to $45.00 by Analysts at Mizuho

Toast (NYSE:TOST) had its target price reduced by analysts at Mizuho from $57.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 63.34% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Oppenheimer decreased their price objective on shares of Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank Of Canada set a $45.00 target price on Toast in a report on Wednesday, November 5th. Truist Financial set a $42.00 price target on Toast in a report on Tuesday, January 20th. Wells Fargo & Company reduced their price objective on Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Sanford C. Bernstein set a $39.00 target price on Toast in a research note on Monday. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Toast Trading Up 0.8%

NYSE TOST opened at $27.55 on Tuesday. The business has a fifty day simple moving average of $33.40 and a 200 day simple moving average of $36.97. Toast has a 12 month low of $25.91 and a 12 month high of $49.66. The firm has a market capitalization of $16.20 billion, a P/E ratio of 51.20 and a beta of 1.93.

Toast (NYSE:TOST) last posted its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 18.86% and a net margin of 5.56%.The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s revenue was up 22.0% compared to the same quarter last year. As a group, sell-side analysts predict that Toast will post 0.39 EPS for the current fiscal year.

Toast declared that its board has approved a share buyback program on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 1,437 shares of Toast stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $43,598.58. Following the completion of the transaction, the chief financial officer owned 164,629 shares of the company’s stock, valued at $4,994,843.86. The trade was a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Jonathan Vassil sold 1,454 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $44,114.36. Following the completion of the sale, the executive directly owned 139,893 shares in the company, valued at approximately $4,244,353.62. The trade was a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 100,856 shares of company stock worth $3,540,449 in the last 90 days. 12.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Toast

Institutional investors have recently added to or reduced their stakes in the business. Cim LLC raised its stake in Toast by 0.7% in the second quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after purchasing an additional 273 shares in the last quarter. Wynn Capital LLC boosted its stake in shares of Toast by 2.1% in the 4th quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock valued at $488,000 after purchasing an additional 280 shares in the last quarter. Bridgewater Advisors Inc. increased its stake in Toast by 2.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock worth $472,000 after purchasing an additional 294 shares during the period. Trinity Financial Advisors LLC grew its holdings in Toast by 2.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock worth $442,000 after acquiring an additional 296 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Toast by 4.6% during the second quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock valued at $307,000 after acquiring an additional 306 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

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.