Toast (NYSE:TOST) Stock Price Up 9.3% – What’s Next?

Toast, Inc. (NYSE:TOST)’s stock price shot up 9.3% during trading on Monday. The stock traded as high as $34.41 and last traded at $34.6210. Approximately 2,962,387 shares changed hands during trading, a decline of 73% from the average daily volume of 10,795,650 shares. The stock had previously closed at $31.68.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TOST shares. Oppenheimer lifted their price target on Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada upped their price target on Toast from $36.00 to $44.00 and gave the stock a “sector perform” rating in a report on Monday, August 31st. Canaccord Genuity Group set a $40.00 price objective on Toast in a research note on Wednesday, August 5th. Piper Sandler lifted their price objective on shares of Toast from $32.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Toast from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and an average price target of $39.11.

Toast Price Performance

The stock’s 50 day simple moving average is $32.06 and its two-hundred day simple moving average is $29.40. The stock has a market capitalization of $17.54 billion, a PE ratio of 43.75 and a beta of 1.74.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted $0.13 EPS. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, equities research analysts predict that Toast, Inc. will post 1.00 earnings per share for the current fiscal year.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 85,280 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $36.34, for a total value of $3,099,075.20. Following the completion of the transaction, the executive directly owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. This trade represents a 54.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 16,176 shares of Toast stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total transaction of $570,851.04. Following the completion of the transaction, the chief financial officer owned 168,974 shares of the company’s stock, valued at $5,963,092.46. This represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 520,550 shares of company stock worth $18,096,931 over the last quarter. Corporate insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of large investors have recently modified their holdings of TOST. Armstrong Advisory Group Inc. purchased a new position in Toast during the third quarter worth about $26,000. Ancora Advisors LLC purchased a new stake in shares of Toast during the second quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Toast in the 3rd quarter worth $32,000. Montag A & Associates Inc. raised its position in Toast by 172.0% during the 1st quarter. Montag A & Associates Inc. now owns 1,455 shares of the company’s stock valued at $39,000 after purchasing an additional 920 shares during the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake in shares of Toast by 213.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company’s stock valued at $44,000 after purchasing an additional 1,068 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.