Toast, Inc. (NYSE:TOST) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Toast, Inc. (NYSE:TOST) have received a consensus rating of “Hold” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $28.06.

A number of research firms have recently issued reports on TOST. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. Piper Sandler raised their price objective on shares of Toast from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Morgan Stanley boosted their price objective on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Bank of America lowered their target price on Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price target on Toast from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

Insider Buying and Selling

In related news, President Stephen Fredette sold 3,810 shares of Toast stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $97,688.40. Following the transaction, the president now directly owns 2,847,315 shares of the company’s stock, valued at $73,005,156.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Stephen Fredette sold 3,810 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $97,688.40. Following the sale, the president now directly owns 2,847,315 shares of the company’s stock, valued at $73,005,156.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aman Narang sold 6,355 shares of Toast stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $162,942.20. Following the completion of the transaction, the chief executive officer now owns 1,131,043 shares in the company, valued at approximately $28,999,942.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 368,352 shares of company stock worth $9,381,482. Corporate insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOST. Vanguard Group Inc. lifted its stake in shares of Toast by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after acquiring an additional 1,598,248 shares during the last quarter. Capital International Investors raised its position in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after purchasing an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after purchasing an additional 3,445,788 shares during the last quarter. Abdiel Capital Advisors LP boosted its stake in shares of Toast by 0.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock valued at $199,280,000 after purchasing an additional 37,091 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of Toast by 9.1% during the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after purchasing an additional 833,390 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Up 0.1 %

NYSE:TOST opened at $24.78 on Thursday. Toast has a 12-month low of $13.77 and a 12-month high of $27.90. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of -49.56 and a beta of 1.76. The stock’s 50 day moving average price is $24.84 and its two-hundred day moving average price is $23.77.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business earned ($0.19) EPS. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. Equities research analysts expect that Toast will post -0.13 EPS for the current year.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.