Toast, Inc. (NYSE:TOST) Stock Has Average Price Target of $38.73

Shares of Toast, Inc. (NYSE:TOST) have earned a consensus rating of “Moderate Buy” from the twenty-eight research firms that are covering the company, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $38.46.

Several equities research analysts recently weighed in on TOST shares. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Toast in a report on Wednesday, November 4th. BMO Capital Markets increased their target price on shares of Toast from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Toast from $36.00 to $44.00 and gave the company a “sector perform” rating in a research report on Monday, August 31st. Bank of America initiated coverage on shares of Toast in a research note on Thursday, October 15th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research report on Saturday.

Insider Activity

In other Toast news, 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 sale, the chief financial officer directly owned 171,957 shares in the company, valued at $5,046,937.95. This trade represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,368 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $274,950.80. Following the transaction, the president directly owned 941,692 shares of the company’s stock, valued at $27,638,660.20. This represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 202,818 shares of company stock valued at $6,843,170. Company insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Arkfeld Wealth Strategies L.L.C. lifted its position in shares of Toast by 138.8% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company’s stock valued at $7,807,000 after buying an additional 153,928 shares during the last quarter. Junto Capital Management LP acquired a new stake in Toast in the 2nd quarter valued at $54,320,000. Keenan Capital LLC purchased a new stake in shares of Toast during the second quarter worth approximately $31,047,000. Quantitative Investment Management LLC raised its holdings in shares of Toast by 120.1% during the 2nd quarter. Quantitative Investment Management LLC now owns 63,823 shares of the company’s stock worth $1,775,000 after acquiring an additional 34,831 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Toast by 47.4% during the second quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company’s stock worth $27,008,000 after acquiring an additional 312,077 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast News Roundup

Investors following TOST have been watching these news items:

• Positive Sentiment: Great Harvest partnered with Toast to streamline operations across more than 150 bakery-cafés, deploying Toast’s point-of-sale, handheld and kitchen technologies. The deal adds a customer and could support Toast’s growth as the chain expands. Great Harvest partnership
• Positive Sentiment: Truist raised its price target to $40 from $38 and reiterated a Buy rating, signaling continued upside potential in the analyst’s view. Truist price target
• Negative Sentiment: Director Susan Chapman-Hughes sold 6,885 shares for about $235,000, reducing her direct holdings by 47.38%. Insider sales can raise concern, although the filing did not give a reason for the transaction. SEC filing

Toast Price Performance

Shares of NYSE TOST opened at $34.66 on Wednesday. The stock has a market capitalization of $17.99 billion, a price-to-earnings ratio of 38.09 and a beta of 1.74. The business has a 50-day moving average of $31.87 and a 200-day moving average of $29.43. Toast has a fifty-two week low of $22.26 and a fifty-two week high of $37.58.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). Toast had a net margin of 7.69% and a return on equity of 26.39%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business earned $0.16 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts expect that Toast will post 1.08 EPS for the current year.

Toast Company Profile

Toast, Inc. provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations. The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast’s products together or select services to fit their needs.