Toast (NYSE:TOST) Stock Moved Down to “Hold” by Wall Street Zen

Wall Street Zen cut shares of Toast (NYSE:TOST) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

Several other equities research analysts have also recently commented on TOST. Wells Fargo & Company boosted their target price on Toast from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Royal Bank Of Canada lifted their price target on Toast from $36.00 to $44.00 and gave the company a “sector perform” rating in a research report on Monday, August 31st. Jefferies Financial Group set a $40.00 price objective on Toast in a report on Wednesday, August 5th. The Goldman Sachs Group raised Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, July 9th. Finally, Evercore reaffirmed an “outperform” rating on shares of Toast in a report on Wednesday, August 5th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.12.

Toast Stock Down 0.1%

Shares of TOST opened at $29.77 on Friday. The firm has a market capitalization of $15.30 billion, a PE ratio of 38.17 and a beta of 1.74. The firm has a 50-day moving average price of $33.06 and a 200 day moving average price of $28.96. Toast has a 52-week low of $22.26 and a 52-week high of $39.72.

Toast (NYSE:TOST) last released 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). The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities analysts expect that Toast will post 1 EPS for the current year.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 85,280 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the transaction, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. This represents a 54.93% decrease in their ownership of the stock. 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, CEO Aman Narang sold 124,542 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total value of $4,395,087.18. Following the sale, the chief executive officer owned 175,458 shares of the company’s stock, valued at $6,191,912.82. This trade represents a 41.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 474,418 shares of company stock worth $16,784,668. 10.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

Hedge funds have recently modified their holdings of the stock. Hickory Point Bank & Trust raised its holdings in Toast by 10.0% during the 3rd quarter. Hickory Point Bank & Trust now owns 5,500 shares of the company’s stock worth $159,000 after buying an additional 500 shares during the period. Talon Private Wealth LLC purchased a new stake in Toast during the second quarter valued at about $837,000. Junto Capital Management LP acquired a new position in shares of Toast in the second quarter worth about $54,320,000. Tidal Investments LLC boosted its holdings in shares of Toast by 31.9% in the second quarter. Tidal Investments LLC now owns 18,071 shares of the company’s stock worth $503,000 after buying an additional 4,372 shares during the period. Finally, Scholtz & Company LLC purchased a new position in shares of Toast in the second quarter worth approximately $2,321,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.