Toast (NYSE:TOST) Research Coverage Started at Loop Capital

Loop Capital initiated coverage on shares of Toast (NYSE:TOST) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $26.00 target price on the stock.

A number of other research analysts have also recently issued reports on TOST. Needham & Company LLC decreased their target price on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Sanford C. Bernstein set a $39.00 price target on Toast in a research report on Monday, February 16th. Canaccord Genuity Group set a $37.00 price objective on Toast in a report on Friday, February 13th. Mizuho decreased their price objective on Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Finally, Wolfe Research cut Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.88.

Toast Stock Performance

TOST opened at $26.44 on Tuesday. The firm’s fifty day moving average is $28.25 and its two-hundred day moving average is $33.41. The firm has a market cap of $13.86 billion, a PE ratio of 48.97 and a beta of 1.90. Toast has a twelve month low of $24.35 and a twelve month high of $49.66.

Toast (NYSE:TOST) last announced its quarterly 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 net margin of 5.56% and a return on equity of 18.14%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the firm earned $0.05 EPS. Toast’s quarterly revenue was up 22.0% on a year-over-year basis. Equities analysts forecast that Toast will post 0.39 EPS for the current fiscal year.

Toast announced that its board has initiated a stock buyback plan on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 3,303 shares of Toast stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $113,557.14. Following the sale, the general counsel owned 235,757 shares of the company’s stock, valued at approximately $8,105,325.66. This trade represents a 1.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $229,383.36. Following the completion of the sale, the chief financial officer owned 162,153 shares in the company, valued at $5,574,820.14. The trade was a 3.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 34,466 shares of company stock valued at $1,159,703 over the last ninety days. Company insiders own 12.14% of the company’s stock.

Institutional Trading of Toast

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH increased its stake in shares of Toast by 322.0% during the third quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock worth $13,245,000 after purchasing an additional 276,803 shares during the period. Candriam S.C.A. boosted its stake in Toast by 10.9% in the 3rd quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock valued at $21,986,000 after purchasing an additional 59,045 shares during the period. Nordea Investment Management AB grew its holdings in Toast by 49.5% in the 3rd quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock valued at $4,988,000 after buying an additional 45,898 shares in the last quarter. Citigroup Inc. grew its holdings in Toast by 17.2% in the 3rd quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock valued at $38,047,000 after buying an additional 152,807 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Toast during the 3rd quarter worth $2,891,000. 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.