Toast (NYSE:TOST) Downgraded by Robert W. Baird

Robert W. Baird lowered shares of Toast (NYSE:TOST) from an outperform rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat reports. The firm currently has $28.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company lifted their price objective on Toast from $17.00 to $19.00 and gave the stock an underweight rating in a research report on Wednesday, May 8th. Piper Sandler upped their price objective on Toast from $20.00 to $25.00 and gave the company a neutral rating in a research report on Thursday, May 9th. Redburn Atlantic upgraded 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 boosted their target price on shares of Toast from $22.00 to $31.00 and gave the company a buy rating in a research note on Thursday, March 28th. Finally, Needham & Company LLC raised their price target on shares of Toast from $26.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Toast currently has an average rating of Hold and an average price target of $26.00.

Toast Stock Performance

NYSE TOST opened at $25.47 on Tuesday. Toast has a one year low of $13.77 and a one year high of $27.90. The firm’s fifty day moving average is $24.31 and its two-hundred day moving average is $20.39.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. As a group, research analysts expect that Toast will post -0.16 earnings per share for the current year.

Insider Activity

In other news, CEO Aman Narang sold 2,471 shares of the firm’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 transaction of $57,821.40. Following the completion of the transaction, the chief executive officer now directly owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Toast news, CFO Elena Gomez sold 12,500 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 176,980 shares of the company’s stock, valued at approximately $4,670,502.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aman Narang sold 2,471 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Insiders have sold a total of 193,010 shares of company stock worth $4,711,760 over the last three months. Corporate insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. LRI Investments LLC acquired a new stake in Toast during the first quarter worth about $27,000. Principal Securities Inc. acquired a new position in Toast during the fourth quarter valued at approximately $30,000. Cape Investment Advisory Inc. bought a new stake in Toast during the fourth quarter worth $31,000. SRS Capital Advisors Inc. acquired a new stake in shares of Toast in the 3rd quarter valued at $33,000. Finally, Larson Financial Group LLC increased its stake in shares of Toast by 8,181.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after purchasing an additional 1,800 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Company Profile

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.