Analysts Set Toast, Inc. (NYSE:TOST) PT at $24.32

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

Several brokerages have recently weighed in on TOST. Robert W. Baird lifted their price objective on Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. The Goldman Sachs Group boosted their price target on shares of Toast from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, April 15th. Piper Sandler raised their price objective on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Redburn Atlantic upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday, February 7th. Finally, Evercore ISI began coverage on Toast in a report on Monday, March 4th. They issued an “outperform” rating and a $32.00 target price for the company.

Toast Trading Down 2.7 %

TOST opened at $22.74 on Tuesday. The business has a 50 day moving average of $23.55 and a 200-day moving average of $19.43. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of -44.59 and a beta of 1.77. Toast has a 1-year low of $13.77 and a 1-year high of $27.00.

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

Insiders Place Their Bets

In other news, insider James Michael Matlock sold 4,151 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $18.20, for a total transaction of $75,548.20. Following the completion of the sale, the insider now owns 39,733 shares in the company, valued at $723,140.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the transaction, the executive now directly owns 22,956 shares in the company, valued at approximately $579,409.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Michael Matlock sold 4,151 shares of Toast stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $18.20, for a total transaction of $75,548.20. Following the transaction, the insider now directly owns 39,733 shares in the company, valued at approximately $723,140.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,510 shares of company stock valued at $4,361,171. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently made changes to their positions in TOST. Park Avenue Securities LLC grew its stake in Toast by 1.0% in the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after acquiring an additional 436 shares during the period. Wellington Shields & Co. LLC grew its position in shares of Toast by 3.1% in the 1st quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after purchasing an additional 500 shares during the period. Brown Advisory Inc. increased its stake in Toast by 2.6% during the 3rd quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock worth $503,000 after purchasing an additional 675 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Toast by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after buying an additional 774 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position 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 acquiring an additional 790 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Company Profile

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.