Toast (NYSE:TOST) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Toast from “hold” to “buy.” Overall analyst sentiment is “Moderate Buy,” with 16 buy ratings, 11 holds, and a consensus price target of $39.12.
• Toast reported quarterly revenue of $1.91 billion, up 23.1% year over year and above estimates, though earnings per share of $0.26 missed the $0.32 consensus.
• Toast shares opened at $30.70, while insiders sold approximately $18.2 million worth of stock over the past 90 days; institutional investors own 82.91% of the company.

Toast (NYSE:TOST - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently issued reports on TOST. BTIG Research reissued a "neutral" rating on shares of Toast in a report on Thursday, August 27th. Piper Sandler upped their target price on shares of Toast from $32.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Jefferies Financial Group set a $40.00 target price on shares of Toast in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price target on shares of Toast from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Finally, DA Davidson boosted their price target on shares of Toast from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Toast has an average rating of "Moderate Buy" and a consensus price target of $39.12.

Toast Trading Up 2.0%

TOST stock opened at $30.70 on Friday. Toast has a 1-year low of $22.26 and a 1-year high of $39.72. The business's 50 day moving average is $33.04 and its 200-day moving average is $28.91. The firm has a market cap of $15.78 billion, a P/E ratio of 39.36 and a beta of 1.72.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the business earned $0.13 EPS. Toast's quarterly revenue was up 23.1% compared to the same quarter last year. Sell-side analysts forecast that Toast will post 1 EPS for the current year.

Insider Buying and Selling at Toast

In other news, CRO Jonathan Vassil sold 14,280 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $33.90, for a total transaction of $484,092.00. Following the sale, the executive directly owned 69,966 shares of the company's stock, valued at $2,371,847.40. This represents a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $35.38, for a total transaction of $4,240,045.34. 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. In the last 90 days, insiders sold 522,533 shares of company stock worth $18,172,786. 10.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TOST. Bayban acquired a new position in shares of Toast during the fourth quarter valued at $25,000. SHP Wealth Management acquired a new stake in Toast in the fourth quarter worth about $29,000. Ancora Advisors LLC bought a new stake in Toast during the 2nd quarter worth about $31,000. Montag A & Associates Inc. lifted its position in Toast by 172.0% during the 1st quarter. Montag A & Associates Inc. now owns 1,455 shares of the company's stock valued at $39,000 after purchasing an additional 920 shares during the period. Finally, Harbor Investment Advisory LLC lifted its position in Toast by 213.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company's stock valued at $44,000 after purchasing an additional 1,068 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.

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.