Toast, Inc. (NYSE:TOST) Stock Has Average Target Price of $38.73 According to Brokerages

Key Points

• Analysts have a “Moderate Buy” consensus on Toast, with 17 of 28 brokerages rating it a buy and 11 recommending hold. Their average 12-month price target is $38.73.
• Toast reported quarterly revenue of $1.98 billion, slightly above estimates and up 21.3% year over year, but earnings per share of $0.29 fell short of the $0.37 consensus.
• Recent analyst price targets range from $39 at Barclays to $44 at RBC; Toast shares opened at $34.60 and have traded between $22.26 and $38.64 over the past 12 months.

Toast, Inc. (NYSE:TOST - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $38.73.

TOST has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Toast from $35.00 to $39.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Morgan Stanley lowered their price objective on shares of Toast from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, November 4th. Jefferies Financial Group set a $40.00 price objective on Toast in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on Toast from $36.00 to $44.00 and gave the stock a "sector perform" rating in a research note on Monday, August 31st. Finally, Wells Fargo & Company lifted their target price on Toast from $36.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th.

Toast Stock Down 0.5%

Shares of Toast stock opened at $34.60 on Wednesday. The business has a fifty day simple moving average of $31.85 and a 200 day simple moving average of $29.42. The stock has a market cap of $17.96 billion, a PE ratio of 38.02 and a beta of 1.74. Toast has a 12 month low of $22.26 and a 12 month high of $38.64.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.08). The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Toast had a return on equity of 26.39% and a net margin of 7.69%. The firm's revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. Analysts expect that Toast will post 1.08 EPS for the current fiscal year.

Insider Transactions at Toast

In other Toast 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 sale, the executive owned 69,966 shares of the company's stock, valued at $2,542,564.44. This trade represents a 54.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 14,713 shares of Toast stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.35, for a total value of $431,826.55. Following the completion of the sale, the chief executive officer directly owned 86,543 shares in the company, valued at $2,540,037.05. This represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 195,933 shares of company stock valued at $6,608,185. 10.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Toast by 36.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company's stock worth $211,478,000 after buying an additional 2,111,009 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Toast by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,950,962 shares of the company's stock worth $201,508,000 after purchasing an additional 89,316 shares during the last quarter. Bank of America Corp DE increased 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 last quarter. Renaissance Technologies LLC raised its stake in shares of Toast by 25.1% during the 1st quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company's stock worth $114,561,000 after purchasing an additional 867,509 shares in the last quarter. Finally, Amova Asset Management Americas Inc. raised its stake in shares of Toast by 0.4% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company's stock worth $101,176,000 after purchasing an additional 16,614 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

About Toast

Toast, Inc. provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations. The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast's products together or select services to fit their needs.

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