Toast, Inc. (NYSE:TOST) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Toast, Inc. (NYSE:TOST) has earned an average rating of “Moderate Buy” from the twenty-four analysts that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $40.4583.

Several research firms have recently issued reports on TOST. Sanford C. Bernstein set a $39.00 price objective on shares of Toast in a research report on Monday, February 16th. Oppenheimer dropped their target price on Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Evercore raised Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Tuesday, January 20th. Citigroup lowered their price objective on Toast from $51.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Jefferies Financial Group set a $35.00 price objective on Toast in a report on Friday, February 13th.

Toast Stock Up 1.7%

Shares of NYSE:TOST opened at $26.07 on Tuesday. Toast has a fifty-two week low of $24.35 and a fifty-two week high of $49.66. The firm’s 50 day moving average price is $28.67 and its 200 day moving average price is $33.61. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 48.27 and a beta of 1.95.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 18.14% and a net margin of 5.56%.The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm earned $0.05 EPS. The company’s revenue was up 22.0% on a year-over-year basis. On average, equities analysts anticipate that Toast will post 0.39 EPS for the current year.

Toast announced that its board has authorized a stock repurchase program on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $229,383.36. Following the completion of the sale, the chief financial officer owned 162,153 shares in the company, valued at approximately $5,574,820.14. The trade was a 3.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $113,557.14. Following the completion of the transaction, the general counsel owned 235,757 shares of the company’s stock, valued at approximately $8,105,325.66. The trade was a 1.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,856 shares of company stock valued at $3,540,449 over the last three months. 12.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bayban acquired a new position in Toast in the fourth quarter valued at $25,000. Quent Capital LLC acquired a new stake in shares of Toast during the third quarter worth about $27,000. SHP Wealth Management acquired a new stake in shares of Toast during the fourth quarter worth about $29,000. Alpine Bank Wealth Management purchased a new stake in shares of Toast in the 3rd quarter valued at about $30,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Toast in the 4th quarter valued at about $29,000. 82.91% of the stock is owned by hedge funds and other 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.