Toast, Inc. (NYSE:TOST) Receives Consensus Recommendation of “Hold” from Analysts

Toast, Inc. (NYSE:TOST) has received an average rating of “Hold” from the nineteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.42.

Several equities research analysts have weighed in on TOST shares. Keefe, Bruyette & Woods assumed coverage on shares of Toast in a report on Tuesday. They issued a “market perform” rating and a $25.00 target price on the stock. Mizuho reissued a “neutral” rating and set a $17.00 price objective on shares of Toast in a research report on Wednesday, March 27th. Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, February 7th. UBS Group increased their price objective on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Evercore ISI assumed coverage on shares of Toast in a research report on Monday, March 4th. They set an “outperform” rating and a $32.00 price objective for the company.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 2,282 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,398.80. Following the transaction, the executive now owns 25,422 shares in the company, valued at approximately $594,874.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Jonathan Vassil sold 2,282 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,398.80. Following the transaction, the executive now owns 25,422 shares in the company, valued at approximately $594,874.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 2,272 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the transaction, the president now owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold 364,747 shares of company stock valued at $7,517,515 in the last ninety days. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sei Investments Co. lifted its position in shares of Toast by 105.0% during the 3rd quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock valued at $12,943,000 after acquiring an additional 353,903 shares during the period. Vanguard Group Inc. lifted its position in shares of Toast by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock valued at $657,032,000 after acquiring an additional 3,494,579 shares during the period. ARK Investment Management LLC lifted its position in shares of Toast by 101.5% during the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock valued at $42,829,000 after acquiring an additional 1,181,409 shares during the period. Riverbridge Partners LLC acquired a new position in shares of Toast during the 3rd quarter valued at $24,647,000. Finally, Hudson Bay Capital Management LP acquired a new position in Toast during the third quarter worth $936,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Up 6.9 %

Shares of Toast stock opened at $24.57 on Friday. Toast has a 1-year low of $13.77 and a 1-year high of $27.00. The firm’s 50-day moving average price is $22.63 and its two-hundred day moving average price is $18.87.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned ($0.19) earnings per share. Toast’s quarterly revenue was up 34.7% on a year-over-year basis. Research analysts anticipate that Toast will post -0.22 earnings per share for the current fiscal year.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.