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

Key Points

• Toast, Inc. (NYSE:TOST) has received a consensus rating of "Moderate Buy" from 26 brokerages, with an average 12-month price target of $45.54.
• Key analysts have recently raised their price targets for Toast, with notable increases from firms such as Truist Financial and Jefferies, both setting targets at $54.00.
• Insiders sold a significant amount of stock, with President Stephen Fredette selling 7,647 shares and CFO Elena Gomez selling 34,170 shares, indicating reduced ownership in the company.

Shares of Toast, Inc. (NYSE:TOST - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-six brokerages that are currently covering the stock, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $45.5417.

A number of research firms recently weighed in on TOST. Barclays reaffirmed an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Truist Financial lifted their target price on Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Jefferies Financial Group lifted their target price on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Canaccord Genuity Group lifted their target price on Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley lifted their target price on Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th.

Insider Activity at Toast

In related news, President Stephen Fredette sold 7,647 shares of Toast stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $325,685.73. Following the transaction, the president directly owned 889,017 shares in the company, valued at approximately $37,863,234.03. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elena Gomez sold 34,170 shares of Toast stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20. Following the transaction, the chief financial officer 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. Insiders sold 393,054 shares of company stock valued at $16,803,936 in the last ninety days. Corporate insiders own 12.14% of the company's stock.

Hedge Funds Weigh In On Toast

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Toast by 1.1% in the second quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company's stock valued at $1,966,995,000 after acquiring an additional 466,138 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after acquiring an additional 3,490,686 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Toast by 7.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock valued at $514,811,000 after acquiring an additional 1,082,958 shares in the last quarter. State Street Corp lifted its position in shares of Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company's stock valued at $408,039,000 after acquiring an additional 245,276 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Toast by 331.0% in the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company's stock valued at $380,978,000 after acquiring an additional 6,606,245 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%

TOST opened at $43.11 on Monday. The stock has a market cap of $21.99 billion, a PE ratio of 126.79 and a beta of 2.01. The business has a 50 day moving average of $44.77 and a 200-day moving average of $40.12. Toast has a 52 week low of $22.91 and a 52 week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business earned $0.02 EPS. The firm's quarterly revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Toast will post 0.39 EPS for the current year.

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.

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