Toast, Inc. (NYSE:TOST) Receives Consensus Rating of "Moderate Buy" from Analysts

Toast, Inc. (NYSE:TOST - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-six research firms that are currently covering the stock, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $43.17.

A number of analysts have issued reports on the company. Wall Street Zen downgraded Toast from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Truist Financial lifted their price target on Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Barclays reaffirmed an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a report on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Toast in a research report on Thursday, July 17th. They issued a "buy" rating and a $54.00 target price for the company.

Toast Trading Up 1.4%

NYSE:TOST traded up $0.69 during midday trading on Thursday, reaching $48.76. The company had a trading volume of 7,212,185 shares, compared to its average volume of 7,134,490. The firm has a market capitalization of $24.28 billion, a price-to-earnings ratio of 211.98 and a beta of 2.00. The stock's fifty day simple moving average is $43.70 and its 200-day simple moving average is $39.17. Toast has a 12-month low of $22.10 and a 12-month high of $49.20.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total value of $12,780,000.00. Following the transaction, the general counsel directly owned 216,156 shares of the company's stock, valued at approximately $9,208,245.60. This trade represents a 58.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 34,170 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the transaction, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,131 shares of company stock worth $20,048,851. Company insiders own 13.32% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new position in Toast in the second quarter worth about $31,000. Wayfinding Financial LLC acquired a new position in Toast in the first quarter worth about $34,000. REAP Financial Group LLC grew its stake in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company's stock worth $35,000 after purchasing an additional 506 shares in the last quarter. Piscataqua Savings Bank grew its stake in Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. Finally, West Branch Capital LLC grew its stake in Toast by 862.1% in the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. 82.91% of the stock is 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.