Toast (NYSE:TOST) Shares Up 3.3%

Toast, Inc. (NYSE:TOST - Get Free Report)'s stock price traded up 3.3% on Thursday . The stock traded as high as $23.78 and last traded at $23.73. 1,516,417 shares were traded during trading, a decline of 82% from the average session volume of 8,418,671 shares. The stock had previously closed at $22.98.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Toast from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, February 16th. Keefe, Bruyette & Woods initiated coverage on shares of Toast in a research report on Tuesday. They set a "market perform" rating and a $25.00 price objective for the company. The Goldman Sachs Group upgraded shares of Toast from a "neutral" rating to a "buy" rating and upped their price target for the company from $16.00 to $24.00 in a research report on Wednesday, January 10th. UBS Group upped their price target on shares of Toast from $22.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, March 28th. Finally, Mizuho reiterated a "neutral" rating and issued a $17.00 price target on shares of Toast in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Toast has a consensus rating of "Hold" and an average target price of $23.42.

Toast Stock Performance

The company has a market cap of $10.73 billion, a PE ratio of -48.10 and a beta of 1.79. The stock's 50-day simple moving average is $22.51 and its 200 day simple moving average is $18.83.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The firm's revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.19) EPS. On average, sell-side analysts predict that Toast, Inc. will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 2,272 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the sale, the president now directly owns 2,835,759 shares of the company's stock, valued at approximately $66,356,760.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Aman Narang sold 2,471 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 2,272 shares of the 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 disclosure for this sale can be found here. Insiders have sold 364,747 shares of company stock valued at $7,517,515 in the last ninety days. Insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Salem Investment Counselors Inc. purchased a new position in shares of Toast during the 1st quarter worth about $299,000. Sanders Morris Harris LLC purchased a new position in Toast in the first quarter valued at approximately $224,000. Wynn Capital LLC purchased a new position in Toast in the first quarter valued at approximately $229,000. Park Avenue Securities LLC raised its holdings in Toast by 1.0% in the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company's stock valued at $1,080,000 after buying an additional 436 shares during the period. Finally, ST Germain D J Co. Inc. raised its holdings in Toast by 50.0% in the first quarter. ST Germain D J Co. Inc. now owns 7,500 shares of the company's stock valued at $187,000 after buying an additional 2,500 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.