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

Key Points

• Toast has a “Moderate Buy” consensus rating from 26 brokerages, with 16 buys, eight holds, and two strong buys. The average 12-month price target is approximately $37.15.
• Toast shares opened at $32.38, while the company reported quarterly revenue of $1.63 billion, up 21.9% year over year. However, earnings of $0.20 per share fell short of the $0.28 analyst consensus.
• Institutional investors own 82.91% of Toast, while insiders have sold 159,265 shares worth about $4.28 million over the past 90 days; recent executive sales were attributed to tax withholding obligations.

Shares of Toast, Inc. (NYSE:TOST - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-six brokerages that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.1538.

Several research analysts have recently issued reports on TOST shares. Piper Sandler initiated coverage on shares of Toast in a report on Wednesday, June 10th. They issued an "overweight" rating and a $32.00 target price for the company. Morgan Stanley set a $45.00 price target on shares of Toast in a research note on Friday, May 8th. Rothschild & Co Redburn reissued a "neutral" rating and issued a $35.00 price target on shares of Toast in a research report on Tuesday, May 12th. Oppenheimer restated an "outperform" rating and issued a $36.00 price objective on shares of Toast in a research note on Friday, May 8th. Finally, DA Davidson raised their price objective on Toast from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 11,605 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $334,804.25. Following the completion of the transaction, the chief financial officer directly owned 185,150 shares of the company's stock, valued at approximately $5,341,577.50. This represents a 5.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Aman Narang sold 14,365 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $414,430.25. Following the transaction, the chief executive officer directly owned 70,451 shares of the company's stock, valued at approximately $2,032,511.35. This trade represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 159,265 shares of company stock valued at $4,278,832 over the last 90 days. Insiders own 10.03% of the company's stock.

Institutional Trading of Toast

Institutional investors have recently modified their holdings of the business. Jennison Associates LLC lifted its holdings in Toast by 1.0% in the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company's stock valued at $538,259,000 after acquiring an additional 157,394 shares during the period. Morgan Stanley grew its stake in shares of Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company's stock worth $368,332,000 after purchasing an additional 653,487 shares during the period. State Street Corp grew its stake in shares of Toast by 3.0% during the 4th quarter. State Street Corp now owns 9,820,594 shares of the company's stock worth $348,729,000 after purchasing an additional 282,282 shares during the period. XN LP increased its holdings in shares of Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company's stock valued at $319,178,000 after purchasing an additional 3,029,856 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company's stock valued at $307,214,000 after purchasing an additional 169,230 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Up 0.3%

Shares of TOST opened at $32.38 on Monday. The stock has a 50 day moving average price of $27.47 and a 200 day moving average price of $27.86. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 49.82 and a beta of 1.72. Toast has a 52-week low of $22.26 and a 52-week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). Toast had a net margin of 6.39% and a return on equity of 20.86%. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the prior year, the company earned $0.09 earnings per share. The business's revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities analysts anticipate that Toast will post 0.97 EPS for the current fiscal year.

Toast Company Profile

Toast, Inc NYSE: TOST is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast's product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.

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