Toast, Inc. (NYSE:TOST) Stock Has Consensus Price Target of $39.15

Key Points

• Analysts maintain a Moderate Buy consensus on Toast, with 17 buy ratings and 11 holds among 28 firms. The average 12-month price target is $39.15, above the stock’s reported opening price of $31.68.
• Toast reported 23.1% year-over-year revenue growth to $1.91 billion, exceeding estimates, although quarterly EPS of $0.26 fell short of the $0.32 consensus.
• Insiders sold approximately $18.6 million worth of shares over the past 90 days, while institutional investors and hedge funds own a substantial 82.91% of the company.

Shares of Toast, Inc. (NYSE:TOST - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-eight ratings firms that are presently covering the stock, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $39.15.

Several research analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Toast from $30.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Barclays upped their target price on shares of Toast from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Needham & Company LLC increased their price target on Toast from $35.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Piper Sandler increased their price target on shares of Toast from $32.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Finally, DA Davidson raised their price target on Toast from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, August 10th.

Toast Price Performance

NYSE TOST opened at $31.68 on Friday. The firm's fifty day moving average price is $32.59 and its 200 day moving average price is $29.21. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 40.61 and a beta of 1.74. Toast has a 12 month low of $22.26 and a 12 month high of $39.72.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The firm's revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. As a group, sell-side analysts forecast that Toast will post 1.00 earnings per share for the current year.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 7,623 shares of the business's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $30.19, for a total transaction of $230,138.37. Following the sale, the executive directly owned 77,424 shares in the company, valued at approximately $2,337,430.56. The trade was a 8.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Stephen Fredette sold 9,368 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $274,950.80. Following the transaction, the president directly owned 941,692 shares in the company, valued at approximately $27,638,660.20. This trade represents a 0.99% decrease in their ownership of the stock. 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 ninety days, insiders sold 534,830 shares of company stock worth $18,566,600. 10.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brindle & Bay Financial Advisors LLC acquired a new stake in shares of Toast in the 3rd quarter worth approximately $204,000. State of Alaska Department of Revenue increased its stake in Toast by 5.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 48,689 shares of the company's stock valued at $1,411,000 after purchasing an additional 2,489 shares in the last quarter. Signal Advisors Wealth LLC acquired a new position in Toast during the third quarter worth $225,000. B. Riley Wealth Advisors Inc. acquired a new position in Toast during the third quarter worth $203,000. Finally, Avior Wealth Management LLC purchased a new stake in Toast during the third quarter worth $209,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Company Profile

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company's products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.

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.