Brokerages Set Toast, Inc. (NYSE:TOST) Target Price at $45.54

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.

Toast, Inc. (NYSE:TOST - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-six analysts that are covering the company, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $45.5417.

TOST has been the topic of several recent analyst reports. Citigroup reiterated a "buy" rating on shares of Toast in a report on Wednesday, July 16th. The Goldman Sachs Group boosted their price target on shares of Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Needham & Company LLC boosted their price target on Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods increased their target price on shares of Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley increased their price target on Toast from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th.

Toast Trading Up 3.1%

Shares of TOST stock traded up $1.3010 on Monday, reaching $43.9010. The company's stock had a trading volume of 5,377,983 shares, compared to its average volume of 8,714,206. The stock's fifty day simple moving average is $44.76 and its 200-day simple moving average is $40.21. Toast has a 1 year low of $22.91 and a 1 year high of $49.66. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 129.12 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS 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 business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business earned $0.02 EPS. Toast's revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts forecast that Toast will post 0.39 earnings per share for the current year.

Insider Transactions at Toast

In other news, Director Paul D. Bell sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the transaction, the director directly owned 226,892 shares in the company, valued at $9,615,682.96. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 34,170 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 139,357 shares in the company, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 405,554 shares of company stock worth $17,333,686 over the last 90 days. Insiders own 12.14% of the company's stock.

Institutional Trading of Toast

Large investors have recently made changes to their positions in the business. RiverPark Advisors LLC acquired a new position in Toast during the second quarter valued at $30,000. Ameritas Advisory Services LLC acquired a new position in shares of Toast in the 2nd quarter valued at about $31,000. REAP Financial Group LLC boosted its stake in shares of 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 buying an additional 506 shares during the last quarter. Motco purchased a new stake in shares of Toast in the second quarter worth about $44,000. Finally, Loomis Sayles & Co. L P acquired a new stake in Toast during the second quarter worth about $42,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.