Robert W. Baird Lowers Toast (NYSE:TOST) to Neutral

Robert W. Baird lowered shares of Toast (NYSE:TOST - Free Report) from an outperform rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage currently has $28.00 target price on the stock.

Several other brokerages have also commented on TOST. The Goldman Sachs Group increased their price target on shares of Toast from $26.00 to $29.00 and gave the stock a buy rating in a research note on Monday, April 15th. Evercore ISI initiated coverage on Toast in a research report on Monday, March 4th. They issued an outperform rating and a $32.00 price target for the company. UBS Group upped their price target on Toast from $22.00 to $31.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Royal Bank of Canada raised their price objective on Toast from $23.00 to $27.00 and gave the company a sector perform rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC upped their target price on Toast from $26.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $25.80.

Toast Stock Down 1.6 %

Shares of TOST traded down $0.42 during trading hours on Tuesday, reaching $26.54. The company's stock had a trading volume of 7,792,213 shares, compared to its average volume of 8,209,191. The company has a 50 day moving average of $24.22 and a two-hundred day moving average of $20.26. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of -53.08 and a beta of 1.77. Toast has a 1-year low of $13.77 and a 1-year high of $27.90.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The business's revenue was up 31.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS. As a group, analysts forecast that Toast will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Stephen Fredette sold 2,272 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the transaction, the president now owns 2,835,759 shares in the company, valued at $66,356,760.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Toast news, President Stephen Fredette sold 2,272 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the transaction, the president now owns 2,835,759 shares in the company, valued at $66,356,760.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Elena Gomez sold 12,500 shares of the company's stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 176,980 shares of the company's stock, valued at $4,670,502.20. The disclosure for this sale can be found here. Insiders have sold a total of 193,010 shares of company stock worth $4,711,760 in the last three months. Insiders own 13.32% of the company's stock.

Institutional Trading of Toast

Hedge funds have recently bought and sold shares of the stock. LRI Investments LLC bought a new stake in shares of Toast during the first quarter worth $27,000. Principal Securities Inc. acquired a new stake in shares of Toast in the 4th quarter valued at about $30,000. Cape Investment Advisory Inc. bought a new stake in shares of Toast in the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. acquired a new position in shares of Toast during the third quarter worth about $33,000. Finally, Larson Financial Group LLC raised its position in Toast by 8,181.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company's stock valued at $34,000 after buying an additional 1,800 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

About Toast

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.