Toast (NYSE:TOST) Shares Gap Up to $26.62

Toast, Inc. (NYSE:TOST) gapped up before the market opened on Thursday . The stock had previously closed at $26.62, but opened at $27.76. Toast shares last traded at $26.79, with a volume of 1,065,108 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TOST. Piper Sandler raised their target price on shares of Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $26.00 target price on shares of Toast in a research note on Wednesday, May 29th. Wells Fargo & Company upped their target price on Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, May 8th. Royal Bank of Canada boosted their price target on Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group lifted their target price on shares of Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.65.

Toast Stock Up 0.8 %

The company has a market cap of $12.15 billion, a price-to-earnings ratio of -53.23 and a beta of 1.76. The company’s 50-day moving average is $25.01 and its 200 day moving average is $22.73.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. Toast’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period last year, the company posted ($0.16) EPS. Analysts predict that Toast, Inc. will post -0.14 EPS for the current fiscal year.

Insider Activity at Toast

In other news, insider James Michael Matlock sold 1,854 shares of Toast stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $47,536.56. Following the completion of the transaction, the insider now owns 48,118 shares in the company, valued at approximately $1,233,745.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider James Michael Matlock sold 1,854 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $47,536.56. Following the transaction, the insider now directly owns 48,118 shares in the company, valued at $1,233,745.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the sale, the chief financial officer now owns 176,980 shares of the company’s stock, valued at approximately $4,670,502.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 278,455 shares of company stock worth $7,021,866. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. Park Avenue Securities LLC increased its stake in Toast by 1.0% in the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after purchasing an additional 436 shares during the last quarter. Wellington Shields & Co. LLC grew its stake in shares of Toast by 3.1% in the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after buying an additional 500 shares in the last quarter. Comerica Bank lifted its position in Toast by 10.9% during the 1st quarter. Comerica Bank now owns 6,167 shares of the company’s stock worth $154,000 after acquiring an additional 607 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Toast by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after acquiring an additional 774 shares during the period. Finally, Orion Capital Management LLC boosted its holdings in Toast by 22.5% in the 4th quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock worth $79,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Company Profile

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.