Toast (NYSE:TOST) Hits New 1-Year Low – Here’s What Happened

Toast, Inc. (NYSE:TOST) hit a new 52-week low on Thursday . The company traded as low as $26.37 and last traded at $26.2070, with a volume of 4870684 shares. The stock had previously closed at $28.02.

Analyst Ratings Changes

A number of brokerages have commented on TOST. Truist Financial set a $42.00 price objective on Toast in a report on Tuesday, January 20th. Morgan Stanley boosted their target price on shares of Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. BNP Paribas Exane raised shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Monday, December 1st. Evercore upgraded shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Tuesday, January 20th. Finally, DA Davidson decreased their target price on shares of Toast from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.55.

Toast Price Performance

The firm has a market cap of $13.46 billion, a P/E ratio of 60.77 and a beta of 1.93. The company’s 50-day moving average is $33.90 and its two-hundred day moving average is $37.51.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 1,060 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total value of $32,160.40. Following the sale, the president owned 913,067 shares of the company’s stock, valued at approximately $27,702,452.78. This trade represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Aman Narang sold 1,648 shares of Toast stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $50,000.32. Following the completion of the transaction, the chief executive officer owned 340,723 shares in the company, valued at approximately $10,337,535.82. The trade was a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,856 shares of company stock worth $3,540,449 in the last 90 days. Corporate insiders own 12.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC bought a new position in shares of Toast in the second quarter worth about $30,000. Ameritas Advisory Services LLC bought a new position in Toast in the 2nd quarter valued at approximately $31,000. Quent Capital LLC acquired a new stake in Toast in the third quarter valued at approximately $27,000. Alpine Bank Wealth Management bought a new stake in shares of Toast during the third quarter worth $30,000. Finally, Motco acquired a new position in shares of Toast during the second quarter worth $44,000. Institutional investors own 82.91% of the company’s stock.

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.