Toast, Inc. (NYSE:TOST) Receives Average Recommendation of "Moderate Buy" from Brokerages

Toast, Inc. (NYSE:TOST - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-four brokerages that are presently covering the firm, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $41.21.

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird increased their price target on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Evercore ISI started coverage on shares of Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price on the stock. UBS Group boosted their price target on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a research note on Wednesday, April 23rd.

Insider Buying and Selling

In related news, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the sale, the director now owns 13,260 shares in the company, valued at $437,712.60. The trade was a 72.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the sale, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 716,991 shares of company stock valued at $28,022,750 over the last three months. 13.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently modified their holdings of TOST. Blue Trust Inc. grew its position in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after purchasing an additional 378 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Toast in the fourth quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast during the fourth quarter valued at approximately $35,000. Wayfinding Financial LLC purchased a new stake in shares of Toast during the first quarter valued at approximately $34,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Toast during the fourth quarter valued at approximately $40,000. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Up 2.4%

Toast stock traded up $0.99 during midday trading on Wednesday, reaching $42.83. The stock had a trading volume of 9,195,433 shares, compared to its average volume of 7,104,988. The firm has a market capitalization of $21.33 billion, a PE ratio of -4,278.42, a P/E/G ratio of 2.16 and a beta of 2.02. Toast has a 12 month low of $21.32 and a 12 month high of $45.56. The firm's 50-day moving average price is $37.58 and its 200 day moving average price is $38.02.

Toast Company Profile

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.