Toast (NYSE:TOST) Raised to Buy at Wall Street Zen

Toast (NYSE:TOST - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other research analysts also recently issued reports about the stock. Mizuho decreased their target price on shares of Toast from $45.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, May 12th. Rothschild & Co Redburn reaffirmed a "neutral" rating and set a $35.00 price target on shares of Toast in a research report on Tuesday, May 12th. DA Davidson lifted their price objective on Toast from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Oppenheimer boosted their price objective on Toast from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $40.00 target price on Toast in a research note on Wednesday, August 5th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Toast currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

Toast Trading Up 0.3%

TOST opened at $35.28 on Friday. Toast has a 12-month low of $22.26 and a 12-month high of $45.64. The firm has a market capitalization of $18.13 billion, a PE ratio of 45.23 and a beta of 1.72. The firm has a 50 day moving average of $31.57 and a two-hundred day moving average of $28.33.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The firm's revenue was up 23.1% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. As a group, analysts predict that Toast will post 1 EPS for the current fiscal year.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 16,176 shares of Toast stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total value of $570,851.04. Following the completion of the transaction, the chief financial officer owned 168,974 shares of the company's stock, valued at approximately $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, CRO Jonathan Vassil sold 85,280 shares of Toast stock in a transaction on Friday, August 21st. The shares were sold at an average price of $36.34, for a total transaction 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. The trade was a 54.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 508,253 shares of company stock worth $17,688,694 in the last three months. Company insiders own 10.03% of the company's stock.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently modified their holdings of TOST. California State Teachers Retirement System raised its holdings in Toast by 2,643.0% in the 2nd quarter. California State Teachers Retirement System now owns 17,903,895 shares of the company's stock worth $498,086,000 after purchasing an additional 17,251,171 shares during the period. Norges Bank acquired a new stake in Toast in the fourth quarter valued at approximately $202,808,000. ValueAct Holdings L.P. grew its holdings in Toast by 135.9% in the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company's stock valued at $284,622,000 after purchasing an additional 4,618,077 shares during the period. XN LP increased its position in shares of Toast by 50.8% in the fourth quarter. XN LP now owns 8,988,386 shares of the company's stock valued at $319,178,000 after buying an additional 3,029,856 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Toast by 36.0% in the first quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company's stock valued at $211,478,000 after buying an additional 2,111,009 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Company Profile

Toast, Inc NYSE: TOST is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast's product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source