Toast, Inc. (NYSE:TOST) Stock Has Average Price Target of $39.15

Toast, Inc. (NYSE:TOST) has been given a consensus rating of “Moderate Buy” by the twenty-eight brokerages that are covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $39.11.

Several brokerages have recently issued reports on TOST. UBS Group raised their target price on shares of Toast from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. DA Davidson upped their price target on shares of Toast from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Citigroup increased their price target on shares of Toast from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Barclays increased their price target on shares of Toast from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, BTIG Research reissued a “neutral” rating on shares of Toast in a report on Thursday, August 27th.

Toast Stock Performance

Shares of Toast stock opened at $32.58 on Friday. Toast has a 52-week low of $22.26 and a 52-week high of $39.72. The company has a fifty day moving average of $32.43 and a 200-day moving average of $29.36. The stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of 41.33 and a beta of 1.74.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the business earned $0.13 EPS. Toast’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities research analysts forecast that Toast will post 1.00 earnings per share for the current fiscal year.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 11,886 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $348,854.10. Following the transaction, the chief financial officer owned 171,957 shares in the company, valued at $5,046,937.95. The trade was a 6.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian R. Elworthy sold 6,507 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $190,980.45. Following the transaction, the general counsel owned 204,023 shares in the company, valued at approximately $5,988,075.05. This represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 534,830 shares of company stock valued at $18,566,600 in the last quarter. 10.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently bought and sold shares of TOST. HB Wealth Management LLC increased its stake in shares of Toast by 2.5% during the second quarter. HB Wealth Management LLC now owns 12,748 shares of the company’s stock valued at $355,000 after buying an additional 315 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in Toast by 0.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after acquiring an additional 358 shares during the period. Hickory Point Bank & Trust lifted its stake in Toast by 10.0% in the third quarter. Hickory Point Bank & Trust now owns 5,500 shares of the company’s stock worth $159,000 after acquiring an additional 500 shares during the period. Toth Financial Advisory Corp lifted its stake in Toast by 16.9% in the third quarter. Toth Financial Advisory Corp now owns 3,561 shares of the company’s stock worth $103,000 after acquiring an additional 516 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Toast by 15.6% in the first quarter. EverSource Wealth Advisors LLC now owns 3,985 shares of the company’s stock worth $106,000 after acquiring an additional 539 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

About Toast

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.