Toast, Inc. (NYSE:TOST) Receives $40.46 Average PT from Brokerages

Shares of Toast, Inc. (NYSE:TOST) have received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $39.88.

A number of equities research analysts have issued reports on TOST shares. Evercore upgraded shares of 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. Jefferies Financial Group set a $35.00 price target on shares of Toast in a report on Friday, February 13th. Needham & Company LLC decreased their price target on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 13th. Citigroup decreased their price target on shares of Toast from $51.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Canaccord Genuity Group set a $37.00 price target on shares of Toast in a report on Friday, February 13th.

Insiders Place Their Bets

In related news, CRO Jonathan Vassil sold 6,438 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the completion of the sale, the executive owned 146,618 shares in the company, valued at approximately $3,839,925.42. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brian R. Elworthy sold 3,664 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $95,960.16. Following the completion of the sale, the general counsel owned 243,642 shares of the company’s stock, valued at approximately $6,380,983.98. The trade was a 1.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,030 shares of company stock valued at $1,231,451 in the last quarter. 12.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Hedge funds have recently made changes to their positions in the stock. Bayban bought a new stake in shares of Toast in the fourth quarter valued at about $25,000. Quent Capital LLC bought a new stake in shares of Toast in the third quarter valued at about $27,000. SHP Wealth Management acquired a new position in Toast in the fourth quarter worth about $29,000. Alpine Bank Wealth Management acquired a new position in Toast in the third quarter worth about $30,000. Finally, Strive Financial Group LLC acquired a new position in Toast in the fourth quarter worth about $29,000. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Toast stock opened at $26.99 on Tuesday. Toast has a one year low of $24.35 and a one year high of $49.66. The company’s fifty day moving average price is $27.97 and its two-hundred day moving average price is $33.11. The company has a market capitalization of $14.14 billion, a price-to-earnings ratio of 49.98 and a beta of 1.90.

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

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

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.