Toast, Inc. (NYSE:TOST) Stock Has Average Target Price of $39.12

Toast, Inc. (NYSE:TOST) has received an average rating of “Moderate Buy” from the twenty-seven research firms that are presently covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $39.12.

TOST has been the subject of a number of recent analyst reports. 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 research report on Monday, August 31st. Zacks Research cut shares of Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Truist Financial increased their price objective on shares of Toast from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, UBS Group raised their price objective on shares of Toast from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th.

Toast Trading Up 1.1%

TOST opened at $30.13 on Tuesday. Toast has a twelve month low of $22.26 and a twelve month high of $39.72. The firm has a market cap of $15.49 billion, a price-to-earnings ratio of 38.63 and a beta of 1.72. The company has a fifty day simple moving average of $33.02 and a 200 day simple moving average of $28.90.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, analysts forecast that Toast will post 1 earnings per share for the current fiscal year.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction dated Friday, August 21st. The stock was 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 in the company, valued at approximately $2,542,564.44. This trade represents a 54.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 124,542 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,191,912.82. This represents a 41.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 522,533 shares of company stock valued at $18,172,786. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently made changes to their positions in TOST. Geode Capital Management LLC grew its position in shares of Toast by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after buying an additional 169,230 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Toast by 36.0% during the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock valued at $211,478,000 after purchasing an additional 2,111,009 shares during the last quarter. Norges Bank bought a new position in shares of Toast during the fourth quarter valued at approximately $202,808,000. Arrowstreet Capital Limited Partnership raised its position in shares of Toast by 5.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,579,046 shares of the company’s stock worth $162,602,000 after purchasing an additional 235,572 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Toast by 10.6% during the 1st quarter. Bank of America Corp DE now owns 4,866,197 shares of the company’s stock worth $129,003,000 after purchasing an additional 465,006 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.