Toast, Inc. (NYSE:TOST) Stock Has Consensus Target Price of $39.15

Shares of Toast, Inc. (NYSE:TOST) have been given an average recommendation of “Moderate Buy” by the twenty-eight brokerages that are covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $39.11.

A number of research firms recently issued reports on TOST. UBS Group increased their price objective on Toast from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Evercore reissued an “outperform” rating on shares of Toast in a research report on Wednesday, August 5th. Bank of America initiated coverage on Toast in a research note on Thursday, October 15th. They issued a “buy” rating and a $40.00 target price on the stock. DA Davidson upped their price target on Toast from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Toast in a research note on Thursday, August 27th.

Toast Trading Down 0.5%

TOST stock opened at $31.47 on Friday. The stock has a 50-day moving average price of $32.51 and a two-hundred day moving average price of $29.27. The stock has a market cap of $16.18 billion, a PE ratio of 40.03 and a beta of 1.74. Toast has a 1 year low of $22.26 and a 1 year high of $39.72.

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

Insider Activity

In other news, President Stephen Fredette sold 9,368 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.35, for a total transaction of $274,950.80. Following the completion of the transaction, the president directly owned 941,692 shares in the company, valued at $27,638,660.20. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,886 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $348,854.10. Following the completion of the transaction, the chief financial officer owned 171,957 shares of the company’s stock, valued at $5,046,937.95. The trade was a 6.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 534,830 shares of company stock worth $18,566,600. 10.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

A number of institutional investors have recently added to or reduced their stakes in TOST. Principal Financial Group Inc. grew its position in Toast by 36.0% during the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock valued at $211,478,000 after buying an additional 2,111,009 shares during the period. Bank of America Corp DE increased its holdings in Toast by 10.6% during the first quarter. Bank of America Corp DE now owns 4,866,197 shares of the company’s stock worth $129,003,000 after buying an additional 465,006 shares during the last quarter. Renaissance Technologies LLC raised its position in Toast by 25.1% in the first quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company’s stock worth $114,561,000 after acquiring an additional 867,509 shares during the period. Amova Asset Management Americas Inc. raised its position in Toast by 0.4% in the first quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company’s stock worth $101,176,000 after acquiring an additional 16,614 shares during the period. Finally, Amundi raised its position in Toast by 24.5% in the first quarter. Amundi now owns 3,329,206 shares of the company’s stock worth $88,257,000 after acquiring an additional 655,717 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.