Toast, Inc. (NYSE:TOST) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Toast, Inc. (NYSE:TOST) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $45.1818.

A number of analysts have recently weighed in on TOST shares. Truist Financial reduced their price objective on shares of Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. UBS Group reiterated a “buy” rating on shares of Toast in a report on Thursday. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Morgan Stanley raised their price target on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd.

Insider Activity at Toast

In related news, CEO Aman Narang sold 13,652 shares of the business’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 $485,465.12. Following the transaction, the chief executive officer owned 318,150 shares of the company’s stock, valued at approximately $11,313,414. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 6,530 shares of the company’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 $232,206.80. Following the transaction, the executive owned 69,932 shares of the company’s stock, valued at approximately $2,486,781.92. The trade was a 8.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 49,759 shares of company stock valued at $1,769,270. 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 stock. Raymond James Financial Inc. raised its position in shares of Toast by 3.1% during the first quarter. Raymond James Financial Inc. now owns 607,094 shares of the company’s stock valued at $20,137,000 after buying an additional 18,213 shares during the last quarter. Northern Trust Corp grew its position in Toast by 3.2% during the first quarter. Northern Trust Corp now owns 2,881,962 shares of the company’s stock worth $95,595,000 after buying an additional 90,221 shares in the last quarter. Wellington Management Group LLP increased its stake in Toast by 102.6% during the first quarter. Wellington Management Group LLP now owns 37,469 shares of the company’s stock valued at $1,243,000 after acquiring an additional 18,971 shares during the period. Hsbc Holdings PLC raised its holdings in Toast by 16.3% in the 1st quarter. Hsbc Holdings PLC now owns 177,797 shares of the company’s stock valued at $5,900,000 after acquiring an additional 24,875 shares in the last quarter. Finally, Candriam S.C.A. bought a new stake in shares of Toast in the 1st quarter worth approximately $3,714,000. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of NYSE:TOST opened at $36.21 on Friday. The stock has a market capitalization of $18.65 billion, a P/E ratio of 84.21 and a beta of 1.94. The business has a 50-day moving average of $35.89 and a two-hundred day moving average of $40.34. Toast has a fifty-two week low of $28.12 and a fifty-two week high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings data 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). Toast had a net margin of 4.68% and a return on equity of 15.77%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business posted $0.07 earnings per share. The firm’s revenue was up 25.1% on a year-over-year basis. As a group, research analysts expect that Toast will post 0.39 EPS for the current fiscal year.

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.