Toast, Inc. (NYSE:TOST) Receives $24.32 Average Price Target from Brokerages

Toast, Inc. (NYSE:TOST) has been given an average recommendation of “Hold” by the eighteen research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.32.

A number of research analysts recently issued reports on TOST shares. The Goldman Sachs Group lifted their price target on shares of Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Robert W. Baird lifted their price target on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Evercore ISI started coverage on shares of Toast in a research note on Monday, March 4th. They issued an “outperform” rating and a $32.00 price target for the company. Keefe, Bruyette & Woods started coverage on shares of Toast in a research note on Tuesday, April 9th. They issued a “market perform” rating and a $25.00 price target for the company. Finally, BNP Paribas upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Thursday, March 7th.

Toast Stock Performance

NYSE TOST opened at $23.46 on Tuesday. The firm has a 50 day simple moving average of $23.52 and a 200-day simple moving average of $19.38. Toast has a one year low of $13.77 and a one year high of $27.00. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of -45.99 and a beta of 1.76.

Toast (NYSE:TOST) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. Equities analysts predict that Toast will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction on Tuesday, April 2nd. The shares were 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 directly owns 2,835,759 shares in the company, valued at $66,356,760.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,510 shares of company stock valued at $4,361,171. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

Several institutional investors have recently bought and sold shares of the company. Park Avenue Securities LLC increased its stake in Toast by 1.0% in the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after buying an additional 436 shares during the period. Brown Advisory Inc. increased its stake in Toast by 2.6% in the 3rd quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock valued at $503,000 after buying an additional 675 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Toast by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after buying an additional 774 shares during the period. Treasurer of the State of North Carolina increased its stake in Toast by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock valued at $2,914,000 after buying an additional 790 shares during the period. Finally, Orion Capital Management LLC increased its stake in Toast by 22.5% in the 4th quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock valued at $79,000 after buying an additional 800 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

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.