Toast, Inc. (NYSE:TOST) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Toast, Inc. (NYSE:TOST) have earned an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $37.4074.

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Loop Capital initiated coverage on Toast in a research report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $36.00 target price on shares of Toast in a research note on Friday, May 8th. Finally, DA Davidson dropped their target price on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th.

Insider Activity at Toast

In other news, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction dated 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 sale, the general counsel owned 189,642 shares of the company’s stock, valued at $4,909,831.38. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 14,365 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $414,430.25. Following the transaction, the chief executive officer owned 70,451 shares in the company, valued at approximately $2,032,511.35. This trade represents a 16.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 156,115 shares of company stock worth $4,184,238 in the last 90 days. Corporate insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOST. Wynn Capital LLC grew its holdings in Toast by 2.1% in the fourth quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock valued at $488,000 after purchasing an additional 280 shares during the last quarter. BOKF NA raised its stake in shares of Toast by 4.5% during the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock worth $293,000 after buying an additional 345 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Toast by 0.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after buying an additional 358 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Toast by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock worth $1,012,000 after buying an additional 380 shares in the last quarter. Finally, Seven Mile Advisory grew its stake in Toast by 3.1% in the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after acquiring an additional 381 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of Toast stock opened at $28.58 on Thursday. The company has a market capitalization of $14.75 billion, a P/E ratio of 43.97 and a beta of 1.74. Toast has a 1 year low of $22.26 and a 1 year high of $49.66. The company’s fifty day moving average is $25.68 and its two-hundred day moving average is $28.52.

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.