Analysts Set Toast, Inc. (NYSE:TOST) PT at $40.46

Toast, Inc. (NYSE:TOST) has been given a consensus rating of “Moderate Buy” by the twenty-five ratings firms that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $39.88.

TOST has been the topic of a number of analyst reports. Loop Capital began coverage on Toast in a research note on Tuesday. They issued a “hold” rating and a $26.00 price target on the stock. Wolfe Research lowered Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Canaccord Genuity Group set a $37.00 target price on shares of Toast in a research note on Friday, February 13th. The Goldman Sachs Group lowered their price target on shares of Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. raised shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a research report on Thursday, December 4th.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 4,866 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 $167,293.08. Following the sale, the president directly owned 910,606 shares in the company, valued at approximately $31,306,634.28. This trade represents a 0.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 4,787 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $164,577.06. Following the transaction, the executive directly owned 79,802 shares in the company, valued at approximately $2,743,592.76. The trade was a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,466 shares of company stock worth $1,159,703 over the last three months. 12.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. increased its stake in shares of Toast by 2,432.8% in the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after acquiring an additional 7,891,383 shares in the last quarter. Jennison Associates LLC lifted its position in Toast by 74.4% during the 3rd quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after acquiring an additional 6,398,674 shares during the period. Norges Bank bought a new stake in Toast during the fourth quarter worth about $202,808,000. ValueAct Holdings L.P. grew its holdings in Toast by 135.9% in the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock worth $284,622,000 after purchasing an additional 4,618,077 shares during the period. Finally, Marshall Wace LLP grew its holdings in Toast by 108.3% in the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after purchasing an additional 4,100,104 shares during the period. Institutional investors own 82.91% of the company’s stock.

Toast Trading Up 1.4%

Shares of NYSE:TOST opened at $26.44 on Tuesday. The stock has a market capitalization of $13.86 billion, a P/E ratio of 48.97 and a beta of 1.90. The stock’s 50-day moving average price is $28.25 and its 200-day moving average price is $33.41. Toast has a 12-month low of $24.35 and a 12-month high of $49.66.

Toast (NYSE:TOST) last released its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.14%. The company’s revenue was up 22.0% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. As a group, research analysts predict that Toast will post 0.39 EPS for the current year.

Toast announced that its board has initiated a stock buyback program on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase 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.

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.