Toast (NYSE:TOST) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Toast (NYSE:TOST) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Several other analysts also recently weighed in on the stock. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 price objective on shares of Toast in a research report on Tuesday, May 12th. Oppenheimer raised their price target on shares of Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price target on shares of Toast from $31.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $45.00 price target on Toast in a report on Friday, May 8th. Finally, Needham & Company LLC boosted their price objective on Toast from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus price target of $39.31.

Toast Price Performance

Shares of NYSE TOST opened at $34.21 on Friday. The firm has a market capitalization of $17.58 billion, a PE ratio of 43.86 and a beta of 1.72. Toast has a 1-year low of $22.26 and a 1-year high of $45.64. The business’s fifty day moving average price is $31.77 and its two-hundred day moving average price is $28.36.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. Equities research analysts expect that Toast will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 16,176 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total value of $570,851.04. Following the sale, the chief financial officer directly owned 168,974 shares in the company, valued at approximately $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 124,542 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total transaction of $4,395,087.18. Following the transaction, the chief executive officer owned 175,458 shares of the company’s stock, valued at approximately $6,191,912.82. This trade represents a 41.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 508,253 shares of company stock valued at $17,688,694 over the last three months. Company insiders own 10.03% of the company’s stock.

Institutional Trading of Toast

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in shares of Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after purchasing an additional 16,379 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Toast by 24.0% during the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after purchasing an additional 15,774 shares during the period. State Street Corp boosted its stake in shares of Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after buying an additional 245,276 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in Toast during the second quarter valued at $4,479,000. Finally, Sei Investments Co. grew its stake in shares of Toast by 24.6% in the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after buying an additional 203,404 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

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.