Toast (NYSE:TOST) Sets New 12-Month High – Here’s What Happened

Toast, Inc. (NYSE:TOST)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.78 and last traded at $30.74, with a volume of 2307016 shares traded. The stock had previously closed at $29.49.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TOST. Morgan Stanley raised their price target on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group lifted their price target on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Finally, Bank of America lifted their target price on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.26.

Toast Stock Performance

The stock has a market cap of $13.90 billion, a P/E ratio of -104.86 and a beta of 1.76. The firm has a 50-day moving average price of $26.98 and a 200-day moving average price of $25.48.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.19) earnings per share. On average, research analysts predict that Toast, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $1,519,500.00. Following the sale, the executive now directly owns 38,266 shares of the company’s stock, valued at approximately $1,162,903.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Toast news, CRO Jonathan Vassil sold 50,000 shares of Toast stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $1,519,500.00. Following the completion of the transaction, the executive now directly owns 38,266 shares of the company’s stock, valued at approximately $1,162,903.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aman Narang sold 1,856 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $44,544.00. Following the completion of the transaction, the chief executive officer now owns 1,132,708 shares in the company, valued at approximately $27,184,992. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,387,269 shares of company stock worth $38,394,140. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. West Branch Capital LLC purchased a new stake in Toast in the second quarter worth approximately $26,000. LRI Investments LLC purchased a new stake in Toast during the first quarter valued at $27,000. Toth Financial Advisory Corp bought a new position in Toast in the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toast in the second quarter worth about $33,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Toast during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors 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.