UBS Group Reaffirms Buy Rating for Toast (NYSE:TOST)

Toast (NYSE:TOST)‘s stock had its “buy” rating reissued by equities research analysts at UBS Group in a research note issued on Thursday,Benzinga reports. They currently have a $50.00 price objective on the stock. UBS Group’s target price suggests a potential upside of 40.13% from the company’s previous close.

TOST has been the topic of a number of other research reports. Royal Bank Of Canada set a $45.00 price target on shares of Toast in a report on Wednesday, November 5th. Truist Financial lowered their price objective on shares of Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. BNP Paribas upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday. Robert W. Baird lowered their price target on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. raised Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target on the stock in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.18.

Toast Stock Up 1.4%

Shares of NYSE TOST opened at $35.68 on Thursday. The stock’s fifty day simple moving average is $36.11 and its 200 day simple moving average is $40.86. The stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 82.98 and a beta of 1.94. Toast has a 52-week low of $28.12 and a 52-week high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, November 4th. 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 analyst estimates of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. As a group, analysts anticipate that Toast will post 0.39 earnings per share for the current year.

Insider Activity at Toast

In other news, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $268,478.00. Following the transaction, the president owned 898,475 shares in the company, valued at approximately $31,949,771. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan Vassil sold 6,530 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $232,206.80. Following the completion of the sale, the executive owned 69,932 shares of the company’s stock, valued at $2,486,781.92. This represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,759 shares of company stock worth $1,769,270 over the last quarter. 12.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in shares of Toast in the third quarter valued at about $27,000. RiverPark Advisors LLC bought a new stake in Toast during the 2nd quarter valued at approximately $30,000. Alpine Bank Wealth Management acquired a new stake in Toast in the 3rd quarter valued at approximately $30,000. Ameritas Advisory Services LLC bought a new position in Toast in the 2nd quarter worth approximately $31,000. Finally, REAP Financial Group LLC lifted its holdings in shares of Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after buying an additional 506 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.