Toast, Inc. (NYSE:TOST) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Toast, Inc. has received a consensus rating of "Moderate Buy" from 26 research firms, with 15 issuing buy ratings and 11 holding recommendations, alongside an average 12-month target price of $45.78.
• Insiders, including President Stephen Fredette and CFO Elena Gomez, recently sold shares of the company, decreasing their ownership by 0.83% and 5.71%, respectively, indicating potential caution among company leadership.
• The company reported a net revenue of $1.55 billion during its last quarterly results, reflecting a 24.8% increase year-over-year, but missed earnings expectations with $0.13 EPS against a forecast of $0.23 EPS.

Shares of Toast, Inc. (NYSE:TOST - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-six research firms that are covering the company, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $45.7826.

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research note on Thursday, July 17th. They issued a "buy" rating and a $54.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Morgan Stanley raised their price target on shares of Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Jefferies Financial Group boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, Needham & Company LLC increased their target price on shares of Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th.

Insider Activity

In related news, President Stephen Fredette sold 7,550 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $268,478.00. Following the completion of the transaction, the president owned 898,475 shares of the company's stock, valued at $31,949,771. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 9,054 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $321,960.24. Following the sale, the chief financial officer directly owned 149,572 shares of the company's stock, valued at $5,318,780.32. This represents a 5.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,196 shares of company stock worth $2,398,513. 12.14% of the stock is currently owned by insiders.

Institutional Trading of Toast

A number of institutional investors and hedge funds have recently made changes to their positions in TOST. Roundview Capital LLC boosted its position in shares of Toast by 0.6% during the 2nd quarter. Roundview Capital LLC now owns 43,619 shares of the company's stock worth $1,932,000 after acquiring an additional 245 shares in the last quarter. Cim LLC lifted its stake in Toast by 0.7% during the second quarter. Cim LLC now owns 38,302 shares of the company's stock worth $1,696,000 after purchasing an additional 273 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Toast by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company's stock valued at $183,000 after purchasing an additional 278 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares during the last quarter. Finally, True Vision MN LLC raised its holdings in shares of Toast by 3.6% during the 2nd quarter. True Vision MN LLC now owns 8,186 shares of the company's stock worth $363,000 after buying an additional 285 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Stock Performance

Shares of TOST stock opened at $36.98 on Tuesday. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of 108.76 and a beta of 1.94. The company has a 50-day simple moving average of $42.08 and a 200 day simple moving average of $40.86. Toast has a 52 week low of $27.65 and a 52 week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company earned $0.02 earnings per share. The firm's revenue was up 24.8% compared to the same quarter last year. Sell-side analysts forecast that Toast will post 0.39 EPS for the current year.

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.

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