Brokerages Set Toast, Inc. (NYSE:TOST) Price Target at $45.55

Shares of Toast, Inc. (NYSE:TOST) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $45.5455.

Several research analysts have recently issued reports on TOST shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a research report on Monday, December 29th. UBS Group reiterated a “buy” rating on shares of Toast in a report on Thursday, December 18th. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Evercore raised shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada set a $45.00 price target on shares of Toast in a research report on Wednesday, November 5th.

Toast Trading Down 4.8%

Shares of TOST opened at $28.06 on Monday. Toast has a 1-year low of $26.92 and a 1-year high of $49.66. The firm’s 50-day moving average price is $33.90 and its 200-day moving average price is $37.51. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 65.27 and a beta of 1.93.

Insider Activity

In other Toast news, CFO Elena Gomez sold 6,672 shares of Toast stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $229,383.36. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $113,557.14. Following the completion of the sale, the general counsel directly owned 235,757 shares in the company, valued at $8,105,325.66. This trade represents a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 100,856 shares of company stock valued at $3,540,449. 12.14% of the stock is currently owned by insiders.

Institutional Trading of Toast

Institutional investors have recently bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Toast during the third quarter valued at approximately $27,000. RiverPark Advisors LLC purchased a new position in shares of Toast in the second quarter valued at $30,000. Alpine Bank Wealth Management bought a new stake in Toast in the third quarter worth $30,000. Ameritas Advisory Services LLC purchased a new stake in Toast during the second quarter valued at $31,000. Finally, Central Pacific Bank Trust Division lifted its position in Toast by 123.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the last quarter. 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.