Toast, Inc. (NYSE:TOST) Receives $40.46 Consensus PT from Analysts

Shares of Toast, Inc. (NYSE:TOST) have been given an average recommendation of “Moderate Buy” by the twenty-four brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $40.4583.

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Citigroup cut their price target on shares of Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Canaccord Genuity Group set a $37.00 price objective on shares of Toast in a research note on Friday, February 13th. Sanford C. Bernstein set a $39.00 price objective on Toast in a report on Monday, February 16th. Finally, Oppenheimer lowered their target price on Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, February 13th.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 66,390 shares of Toast stock in a transaction that occurred 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 transaction, the executive directly owned 84,589 shares of the company’s stock, valued at $3,033,361.54. The trade was a 43.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 3,303 shares of Toast stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $113,557.14. Following the completion of the transaction, the general counsel directly owned 235,757 shares in the company, valued at approximately $8,105,325.66. This represents a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 100,856 shares of company stock valued at $3,540,449 over 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 modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Toast by 2,432.8% during the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after buying an additional 7,891,383 shares during the period. Jennison Associates LLC lifted its holdings in Toast by 74.4% in the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after buying an additional 6,398,674 shares during the period. Norges Bank bought a new stake in Toast during the fourth quarter valued at $202,808,000. ValueAct Holdings L.P. boosted its position in Toast by 135.9% during the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock valued at $284,622,000 after acquiring an additional 4,618,077 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Toast by 108.3% during the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after acquiring an additional 4,100,104 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Up 2.8%

Shares of TOST stock traded up $0.78 during mid-day trading on Friday, reaching $28.38. 702,652 shares of the stock traded hands, compared to its average volume of 12,075,746. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 52.51 and a beta of 1.95. The stock’s fifty day simple moving average is $30.57 and its two-hundred day simple moving average is $35.03. Toast has a 1-year low of $24.35 and a 1-year high of $49.66.

Toast (NYSE:TOST) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.14%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. On average, equities research analysts anticipate that Toast will post 0.39 EPS for the current fiscal year.

Toast announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About Toast

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.