Toast (NYSE:TOST) Price Target Raised to $40.00

Toast (NYSE:TOST) had its price target increased by Truist Financial from $38.00 to $40.00 in a research report released on Tuesday, Marketbeat.com reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on TOST. Jefferies Financial Group set a $40.00 price target on shares of Toast in a report on Wednesday, August 5th. UBS Group boosted their price objective on shares of Toast from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Toast in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods raised their target price on shares of Toast from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Finally, Oppenheimer raised their target price on shares of Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.46.

Toast Trading Down 1.6%

Shares of NYSE TOST opened at $33.55 on Tuesday. Toast has a 12-month low of $22.26 and a 12-month high of $37.64. The stock’s fifty day simple moving average is $31.85 and its two-hundred day simple moving average is $29.42. The stock has a market capitalization of $17.41 billion, a PE ratio of 36.67 and a beta of 1.74.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Toast had a return on equity of 26.39% and a net margin of 7.69%. The company’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. On average, equities analysts predict that Toast will post 1.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Jonathan Vassil sold 85,280 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $36.34, for a total value of $3,099,075.20. Following the completion of the transaction, the executive directly owned 69,966 shares of the company’s stock, valued at $2,542,564.44. This trade represents a 54.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 14,713 shares of Toast stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $431,826.55. Following the completion of the sale, the chief executive officer owned 86,543 shares of the company’s stock, valued at $2,540,037.05. This trade represents a 14.53% decrease in their ownership of the stock. 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 quarter, insiders have sold 202,818 shares of company stock valued at $6,843,170. 10.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in Toast by 36.0% in the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock worth $211,478,000 after acquiring an additional 2,111,009 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Toast by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,950,962 shares of the company’s stock valued at $201,508,000 after purchasing an additional 89,316 shares during the last quarter. Bank of America Corp DE grew its stake in Toast by 10.6% during the 1st quarter. Bank of America Corp DE now owns 4,866,197 shares of the company’s stock valued at $129,003,000 after purchasing an additional 465,006 shares during the last quarter. Renaissance Technologies LLC grew its stake in Toast by 25.1% during the 1st quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company’s stock valued at $114,561,000 after purchasing an additional 867,509 shares during the last quarter. Finally, Amova Asset Management Americas Inc. increased its holdings in shares of Toast by 0.4% in the first quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company’s stock valued at $101,176,000 after purchasing an additional 16,614 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Toast

These are some of the TOST stories that stood out recently:

• Positive Sentiment: Bakery chain Great Harvest partnered with Toast to support growth and streamline operations, adding a customer win for Toast’s restaurant technology platform. Great Harvest Partners with Toast
• Positive Sentiment: A Truist Financial analyst reportedly expects Toast shares to rise, providing a counterpoint to the more cautious analyst coverage. Truist analyst outlook
• Negative Sentiment: Sanford C. Bernstein cut its rating from Outperform to Market Perform (Hold) and lowered its price target to $38 from $45. The reduced target and more cautious stance may limit investor enthusiasm, even though it remains above the cited share price. Bernstein downgrade

About Toast

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.