Mizuho Lowers Toast (NYSE:TOST) Price Target to $38.00

Toast (NYSE:TOST) had its target price decreased by equities researchers at Mizuho from $45.00 to $38.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 64.91% from the stock’s current price.

TOST has been the topic of a number of other research reports. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 price objective on shares of Toast in a research note on Tuesday. Truist Financial set a $36.00 price objective on Toast in a research note on Wednesday, February 25th. Loop Capital assumed coverage on Toast in a report on Tuesday, March 31st. They set a “hold” rating and a $26.00 target price on the stock. Oppenheimer reissued an “outperform” rating and issued a $36.00 price target on shares of Toast in a report on Friday. Finally, Wall Street Zen cut shares of Toast from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.28.

Toast Stock Down 4.7%

NYSE:TOST opened at $23.04 on Tuesday. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of 35.44 and a beta of 1.81. Toast has a 52 week low of $23.13 and a 52 week high of $49.66. The firm has a 50 day moving average of $27.71 and a 200 day moving average of $31.58.

Toast (NYSE:TOST) last issued its quarterly 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). The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Toast had a return on equity of 20.87% and a net margin of 6.39%.Toast’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, analysts expect that Toast will post 0.81 EPS for the current year.

Toast announced that its board has approved a share buyback plan on Thursday, February 12th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 3,664 shares of Toast stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $95,960.16. Following the sale, the general counsel owned 243,642 shares of the company’s stock, valued at approximately $6,380,983.98. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 13,463 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $352,595.97. Following the transaction, the chief executive officer owned 54,013 shares of the company’s stock, valued at $1,414,600.47. This represents a 19.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 39,783 shares of company stock worth $1,041,917. 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 TOST. Bayban purchased a new stake in Toast during the 4th quarter worth approximately $25,000. Quent Capital LLC acquired a new stake in shares of Toast in the third quarter worth approximately $27,000. SHP Wealth Management acquired a new stake in shares of Toast in the fourth quarter worth approximately $29,000. Strive Financial Group LLC purchased a new stake in shares of Toast during the fourth quarter worth approximately $29,000. Finally, Central Pacific Bank Trust Division raised its stake in Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.