Oppenheimer Has Lowered Expectations for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price target reduced by analysts at Oppenheimer from $49.00 to $48.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 38.07% from the stock’s previous close.

Several other research firms have also weighed in on TOST. Keefe, Bruyette & Woods cut their target price on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. Wolfe Research cut shares of Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a research note on Monday, December 29th. Truist Financial reduced their price target on Toast from $47.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Robert W. Baird dropped their price objective on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

Toast Trading Down 4.0%

Shares of NYSE TOST opened at $34.77 on Monday. The company has a 50 day simple moving average of $35.48 and a two-hundred day simple moving average of $39.50. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 80.85 and a beta of 1.93. Toast has a 12 month low of $28.12 and a 12 month high of $49.66.

Toast (NYSE:TOST) last released 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). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The firm’s revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. Analysts forecast that Toast will post 0.39 EPS for the current year.

Insider Activity

In other news, CEO Aman Narang sold 8,591 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $295,358.58. Following the completion of the sale, the chief executive officer owned 338,850 shares in the company, valued at approximately $11,649,663. The trade was a 2.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 4,866 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $167,293.08. Following the completion of the transaction, the president owned 910,606 shares in the company, valued at $31,306,634.28. This represents a 0.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 102,595 shares of company stock valued at $3,634,737. Insiders own 12.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Trinity Financial Advisors LLC grew its position in Toast by 5.2% during the fourth quarter. Trinity Financial Advisors LLC now owns 12,726 shares of the company’s stock worth $452,000 after buying an additional 632 shares in the last quarter. Wynn Capital LLC grew its position in Toast by 2.1% during the 4th quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock worth $488,000 after acquiring an additional 280 shares during the last quarter. Fiduciary Financial Group LLC acquired a new stake in shares of Toast in the fourth quarter valued at $1,661,000. Wealth Management Partners LLC lifted its position in shares of Toast by 39.4% during the fourth quarter. Wealth Management Partners LLC now owns 8,783 shares of the company’s stock worth $312,000 after purchasing an additional 2,483 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Toast by 285.3% during the 4th quarter. SG Americas Securities LLC now owns 288,286 shares of the company’s stock worth $10,237,000 after buying an additional 213,459 shares in the last quarter. 82.91% of the stock is 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.