Oppenheimer Cuts Toast (NYSE:TOST) Price Target to $48.00

Toast (NYSE:TOST) had its target price reduced by Oppenheimer from $49.00 to $48.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 33.43% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada set a $45.00 price target on shares of Toast in a report on Wednesday, November 5th. Truist Financial lowered their price objective on shares of Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. The Goldman Sachs Group cut their target price on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. BNP Paribas raised Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Monday, December 1st. Finally, Morgan Stanley lifted their price objective on Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.27.

Toast Trading Up 1.5%

Shares of Toast stock traded up $0.52 on Monday, reaching $35.98. The stock had a trading volume of 2,641,849 shares, compared to its average volume of 8,161,719. The business’s 50 day moving average is $35.49 and its two-hundred day moving average is $39.61. The company has a market cap of $18.53 billion, a P/E ratio of 83.65 and a beta of 1.93. Toast has a 1 year low of $28.12 and a 1 year high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.Toast’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 EPS. On average, equities analysts anticipate that Toast will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 66,390 shares of Toast stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $35.86, for a total value of $2,380,745.40. Following the completion of the sale, the executive owned 84,589 shares of the company’s stock, valued at approximately $3,033,361.54. This trade represents a 43.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aman Narang sold 8,591 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $295,358.58. Following the completion of the transaction, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at approximately $11,649,663. This trade represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 102,595 shares of company stock worth $3,634,737 in the last three months. Corporate insiders own 12.14% of the company’s stock.

Institutional Trading of Toast

A number of large investors have recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new stake in shares of Toast during the 3rd quarter worth $27,000. RiverPark Advisors LLC purchased a new stake in shares of Toast during the second quarter valued at about $30,000. Alpine Bank Wealth Management bought a new stake in shares of Toast in the 3rd quarter valued at about $30,000. Ameritas Advisory Services LLC purchased a new position in shares of Toast in the 2nd quarter worth approximately $31,000. Finally, Central Pacific Bank Trust Division raised its stake in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares in 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.