Toast, Inc. (NYSE:TOST) Receives $39.00 Consensus Price Target from Analysts

Toast, Inc. (NYSE:TOST) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $39.1154.

A number of research firms recently commented on TOST. Morgan Stanley set a $45.00 price objective on shares of Toast in a research note on Friday, May 8th. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Canaccord Genuity Group set a $40.00 target price on Toast in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their price target on shares of Toast from $36.00 to $44.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Citigroup boosted their target price on Toast from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th.

Toast Trading Down 0.5%

NYSE TOST opened at $33.86 on Friday. Toast has a 52 week low of $22.26 and a 52 week high of $42.62. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 43.41 and a beta of 1.72. The company has a 50-day moving average price of $32.27 and a two-hundred day moving average price of $28.50.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business 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 firm’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, equities research analysts expect that Toast will post 1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Aman Narang sold 124,542 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 175,458 shares in the company, valued at approximately $6,191,912.82. The trade was a 41.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction on Friday, August 21st. The stock was sold at an average price of $36.34, for a total transaction of $3,099,075.20. Following the completion of the transaction, the executive owned 69,966 shares in the company, valued at $2,542,564.44. This trade represents a 54.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 508,253 shares of company stock valued at $17,688,694 over the last 90 days. 10.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Cygnus Capital Advisors LLC bought a new position in Toast in the second quarter worth $640,000. California State Teachers Retirement System grew its position in Toast by 2,643.0% during the 2nd quarter. California State Teachers Retirement System now owns 17,903,895 shares of the company’s stock worth $498,086,000 after acquiring an additional 17,251,171 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Toast by 2.5% in the second quarter. HB Wealth Management LLC now owns 12,748 shares of the company’s stock valued at $355,000 after buying an additional 315 shares in the last quarter. Saudi Central Bank increased its position in Toast by 93.0% in the 2nd quarter. Saudi Central Bank now owns 33,013 shares of the company’s stock valued at $918,000 after acquiring an additional 15,905 shares in the last quarter. Finally, Odyssean LLC increased its holdings in shares of Toast by 144.1% in the second quarter. Odyssean LLC now owns 119,775 shares of the company’s stock valued at $3,332,000 after purchasing an additional 70,700 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.