Mizuho Issues Pessimistic Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its target price decreased by research analysts at Mizuho from $57.00 to $45.00 in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 62.48% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer lowered their target price on shares of Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Stephens set a $42.00 price target on Toast in a report on Friday, January 16th. Truist Financial set a $42.00 price objective on Toast in a report on Tuesday, January 20th. UBS Group set a $40.00 target price on Toast in a research report on Friday, February 13th. Finally, Jefferies Financial Group set a $35.00 price target on Toast in a report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.71.

Toast Stock Performance

Shares of TOST opened at $27.70 on Tuesday. Toast has a 1 year low of $25.91 and a 1 year high of $49.66. The stock has a market capitalization of $16.28 billion, a PE ratio of 51.29 and a beta of 1.93. The stock has a 50-day simple moving average of $33.11 and a 200-day simple moving average of $36.77.

Toast (NYSE:TOST) last issued its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share 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 18.86%. 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 business earned $0.05 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. Analysts predict that Toast will post 0.39 EPS for the current year.

Toast announced that its Board of Directors has authorized a share buyback plan on Thursday, February 12th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 8,591 shares of Toast stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $295,358.58. Following the transaction, the chief executive officer directly owned 338,850 shares in the company, valued at approximately $11,649,663. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 4,866 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $167,293.08. Following the sale, the president owned 910,606 shares of the company’s stock, valued at $31,306,634.28. This trade represents a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 100,856 shares of company stock valued at $3,540,449. 12.14% of the stock is owned by company insiders.

Institutional Trading of Toast

Several hedge funds have recently made changes to their positions in TOST. Strive Financial Group LLC acquired a new stake in shares of Toast in the fourth quarter valued at about $29,000. Mercer Global Advisors Inc. ADV increased its holdings in Toast by 39.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 181,327 shares of the company’s stock valued at $6,268,000 after buying an additional 51,079 shares in the last quarter. Arohi Asset Management PTE Ltd. acquired a new stake in shares of Toast during the 4th quarter valued at approximately $8,576,000. Vident Advisory LLC lifted its position in shares of Toast by 15.0% during the 4th quarter. Vident Advisory LLC now owns 68,679 shares of the company’s stock valued at $2,439,000 after acquiring an additional 8,975 shares during the period. Finally, Beacon Pointe Advisors LLC boosted its stake in shares of Toast by 51.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 26,353 shares of the company’s stock worth $936,000 after acquiring an additional 9,004 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.