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

Toast (NYSE:TOST) had its target price upped by equities researchers at Truist Financial from $38.00 to $40.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial‘s price objective points to a potential upside of 15.06% from the company’s current price.

TOST has been the topic of a number of other research reports. Wells Fargo & Company raised their price target on Toast from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Morgan Stanley cut their price objective on shares of Toast from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, November 4th. Citigroup increased their price objective on shares of Toast from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a research note on Sunday, October 4th. Finally, Weiss Ratings raised shares of Toast from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.73.

Toast Price Performance

Shares of NYSE TOST opened at $34.76 on Tuesday. The stock has a market capitalization of $17.87 billion, a PE ratio of 38.20 and a beta of 1.74. The business has a fifty day moving average price of $31.85 and a two-hundred day moving average price of $29.42. Toast has a fifty-two week low of $22.26 and a fifty-two week high of $38.64.

Toast (NYSE:TOST) last released its earnings results on Tuesday, November 3rd. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Toast had a net margin of 7.69% and a return on equity of 26.39%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, equities analysts expect that Toast will post 1.00 EPS for the current year.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 6,507 shares of Toast stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total value of $190,980.45. Following the transaction, the general counsel owned 204,023 shares in the company, valued at approximately $5,988,075.05. This trade represents a 3.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Aman Narang sold 14,713 shares of Toast stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $431,826.55. Following the completion of the transaction, the chief executive officer owned 86,543 shares in the company, valued at approximately $2,540,037.05. The trade was a 14.53% 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. Over the last ninety days, insiders sold 195,933 shares of company stock valued at $6,608,185. Corporate insiders own 10.03% of the company’s stock.

Institutional Trading of Toast

Several large investors have recently bought and sold shares of the business. Armstrong Advisory Group Inc. bought a new position in Toast in the third quarter valued at about $26,000. Ancora Advisors LLC acquired a new stake in shares of Toast in the 2nd quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Toast in the 3rd quarter valued at approximately $32,000. Harbor Investment Advisory LLC boosted its stake in shares of Toast by 213.6% in 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. Finally, Heritage Family Offices LLP bought a new stake in shares of Toast during the 3rd quarter valued at approximately $75,000. 82.91% of the stock is owned by institutional investors and hedge funds.

About Toast

Toast, Inc provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations.

The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast’s products together or select services to fit their needs.

Founded in 2011 and headquartered in Boston, Toast serves restaurants in the United States and selected international markets.