Toast (NYSE:TOST) Rating Lowered to “Hold” at Wall Street Zen

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

Several other analysts have also issued reports on TOST. Truist Financial cut their target price on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 price target on shares of Toast in a research report on Tuesday, May 12th. Morgan Stanley set a $45.00 price target on shares of Toast in a research note on Friday, May 8th. UBS Group cut their price objective on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Citigroup cut their price objective on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toast has an average rating of “Moderate Buy” and an average price target of $37.62.

Toast Stock Down 0.1%

NYSE TOST opened at $28.79 on Friday. Toast has a 52 week low of $22.26 and a 52 week high of $49.66. The firm has a market capitalization of $14.85 billion, a P/E ratio of 44.29 and a beta of 1.74. The company has a 50-day moving average price of $25.64 and a 200-day moving average price of $28.70.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.89, for a total value of $2,796,120.00. Following the completion of the sale, the general counsel directly owned 189,642 shares of the company’s stock, valued at approximately $4,909,831.38. This represents a 36.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently modified their holdings of the company. Bayban purchased a new stake in shares of Toast in the fourth quarter worth $25,000. SHP Wealth Management bought a new stake in shares of Toast during the 4th quarter valued at $29,000. Strive Financial Group LLC purchased a new position in shares of Toast during the 4th quarter valued at $29,000. Central Pacific Bank Trust Division lifted its stake in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after buying an additional 521 shares in the last quarter. Finally, Silicon Valley Capital Partners bought a new position in Toast in the 4th quarter worth $36,000. 82.91% of the stock is currently owned by institutional investors.

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.