Toast (NYSE:TOST) Receives “Neutral” Rating from DA Davidson

Toast (NYSE:TOST)‘s stock had its “neutral” rating reaffirmed by investment analysts at DA Davidson in a report issued on Tuesday,Benzinga reports. They presently have a $33.00 target price on the stock. DA Davidson’s target price suggests a potential upside of 16.69% from the stock’s current price.

A number of other research firms also recently weighed in on TOST. Needham & Company LLC dropped their target price on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 13th. BMO Capital Markets initiated coverage on Toast in a report on Tuesday, April 21st. They set an “outperform” rating and a $35.00 target price for the company. The Goldman Sachs Group dropped their target price on Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Morgan Stanley set a $51.00 target price on Toast in a report on Friday, February 13th. Finally, Mizuho dropped their target price on Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.48.

Toast Stock Down 3.8%

Shares of TOST traded down $1.13 during midday trading on Tuesday, reaching $28.28. 8,943,433 shares of the stock were exchanged, compared to its average volume of 10,966,969. Toast has a twelve month low of $24.35 and a twelve month high of $49.66. The company has a market cap of $14.57 billion, a P/E ratio of 52.39 and a beta of 1.81. The stock’s 50 day simple moving average is $27.64 and its 200 day simple moving average is $31.95.

Toast (NYSE:TOST) last posted its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, analysts predict that Toast will post 0.81 earnings per share for the current year.

Toast declared that its Board of Directors has approved a share buyback program on Thursday, February 12th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 6,438 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $168,611.22. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 3,664 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $95,960.16. Following the completion of the transaction, the general counsel owned 243,642 shares in the company, valued at $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 39,783 shares of company stock valued at $1,041,917 in the last ninety days. Insiders own 12.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors grew its position in Toast by 7.4% in the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after acquiring an additional 3,351,545 shares during the last quarter. Vanguard Group Inc. grew its position in Toast by 0.8% in the third quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock valued at $1,634,339,000 after acquiring an additional 352,435 shares during the last quarter. Jennison Associates LLC grew its position in Toast by 1.0% in the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after acquiring an additional 157,394 shares during the last quarter. Morgan Stanley grew its position in Toast by 6.7% in the fourth quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock valued at $368,332,000 after acquiring an additional 653,487 shares during the last quarter. Finally, State Street Corp grew its position in Toast by 3.0% in the fourth quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after acquiring an additional 282,282 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

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.