Truist Financial Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its price objective upped by analysts at Truist Financial from $30.00 to $33.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 16.28% from the company’s current price.

TOST has been the topic of several other research reports. Rothschild & Co Redburn reiterated a “neutral” rating and set a $35.00 price objective on shares of Toast in a report on Tuesday, May 12th. Robert W. Baird increased their target price on Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Mizuho dropped their target price on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Toast in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.08.

Toast Trading Down 2.8%

Shares of Toast stock opened at $28.38 on Friday. The stock’s fifty day simple moving average is $26.43 and its 200 day simple moving average is $28.04. The company has a market capitalization of $14.64 billion, a PE ratio of 43.66 and a beta of 1.74. Toast has a 12 month low of $22.26 and a 12 month high of $49.66.

Toast (NYSE:TOST) last posted its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). Toast had a net margin of 6.39% and a return on equity of 20.86%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. Analysts predict that Toast will post 0.97 EPS for the current fiscal year.

Insider Activity at Toast

In related news, CEO Aman Narang sold 14,365 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $414,430.25. Following the completion of the transaction, the chief executive officer directly owned 70,451 shares in the company, valued at approximately $2,032,511.35. This trade represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 6,647 shares of Toast stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $191,765.95. Following the completion of the sale, the executive directly owned 69,966 shares in the company, valued at approximately $2,018,519.10. This represents a 8.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 159,265 shares of company stock valued at $4,278,832 over the last ninety days. Company insiders own 10.03% of the company’s stock.

Institutional Trading of Toast

A number of institutional investors have recently made changes to their positions in the business. Jennison Associates LLC grew its position in Toast by 1.0% in the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after purchasing an additional 157,394 shares in the last quarter. Morgan Stanley boosted its stake in shares of Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after buying an additional 653,487 shares during the last quarter. State Street Corp boosted its stake in shares of Toast by 3.0% during the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock worth $348,729,000 after buying an additional 282,282 shares during the last quarter. XN LP grew its holdings in shares of Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after acquiring an additional 3,029,856 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after acquiring an additional 169,230 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.