Toast (NYSE:TOST) Raised to “Buy” at Wall Street Zen

Toast (NYSE:TOST) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley set a $45.00 target price on shares of Toast in a report on Friday, May 8th. Truist Financial dropped their price target on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Jefferies Financial Group set a $35.00 price target on Toast in a research note on Friday, February 13th. Sanford C. Bernstein set a $39.00 price target on Toast in a research note on Monday, February 16th. Finally, Piper Sandler assumed coverage on Toast in a research note on Wednesday. They issued an “overweight” rating and a $32.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and an average target price of $37.62.

Toast Trading Up 0.5%

Toast stock opened at $24.81 on Friday. The firm has a 50 day moving average of $25.98 and a 200 day moving average of $29.57. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 38.17 and a beta of 1.76. Toast has a 12-month low of $22.26 and a 12-month high of $49.66.

Insider Activity

In other news, CRO Jonathan Vassil sold 6,438 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $168,611.22. Following the transaction, the executive owned 146,618 shares in the company, valued at approximately $3,839,925.42. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Aman Narang sold 13,463 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $352,595.97. Following the transaction, the chief executive officer owned 54,013 shares in the company, valued at approximately $1,414,600.47. This represents a 19.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 147,783 shares of company stock valued at $3,838,037. Company insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors have recently made changes to their positions in the company. Capital International Investors increased its stake in shares of Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after buying an additional 3,351,545 shares during the period. Vanguard Group Inc. increased its stake in shares of Toast by 0.8% during the third quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock valued at $1,634,339,000 after buying an additional 352,435 shares during the period. Jennison Associates LLC increased its stake in shares of Toast by 1.0% during the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after buying an additional 157,394 shares during the period. Morgan Stanley increased its stake in shares of Toast by 6.7% during the fourth quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock valued at $368,332,000 after buying an additional 653,487 shares during the period. Finally, State Street Corp increased its stake in shares of Toast by 3.0% during the fourth quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after buying an additional 282,282 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.