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

Key Points

• Toast, Inc. (NYSE:TOST) has a consensus analyst rating of “Moderate Buy” from 27 brokerages, with an average 12-month price target of about $37.41.
• Recent analyst actions were mixed: Wall Street Zen downgraded Toast to hold, while Barclays and Piper Sandler initiated overweight ratings and Morgan Stanley set a $45 price target.
• Toast shares were down 3.5% and opened at $28.58; the stock has traded between $22.26 and $49.66 over the past 52 weeks.

Toast, Inc. (NYSE:TOST - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-seven brokerages that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $37.4074.

A number of brokerages recently commented on TOST. Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Barclays initiated coverage on Toast in a research note on Tuesday. They issued an "overweight" rating and a $35.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Toast in a research report on Wednesday, May 20th. Piper Sandler began coverage on Toast in a report on Wednesday, June 10th. They issued an "overweight" rating and a $32.00 price objective on the stock. Finally, Morgan Stanley set a $45.00 target price on Toast in a research report on Friday, May 8th.

Toast Stock Down 3.5%

NYSE:TOST opened at $28.58 on Thursday. Toast has a 52 week low of $22.26 and a 52 week high of $49.66. The company has a fifty day simple moving average of $25.68 and a two-hundred day simple moving average of $28.52. The company has a market cap of $14.75 billion, a price-to-earnings ratio of 43.97 and a beta of 1.74.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 11,605 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $334,804.25. Following the completion of the sale, the chief financial officer owned 185,150 shares in the company, valued at approximately $5,341,577.50. The trade was a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 6,647 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $191,765.95. Following the completion of the transaction, the executive owned 69,966 shares of the company's stock, valued at approximately $2,018,519.10. The trade was a 8.68% decrease in their position. 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 sold a total of 156,115 shares of company stock valued at $4,184,238 over the last three months. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bayban acquired a new stake in shares of Toast during the fourth quarter worth about $25,000. SHP Wealth Management purchased a new position in Toast during the 4th quarter worth approximately $29,000. Strive Financial Group LLC acquired a new position in Toast during the fourth quarter worth approximately $29,000. Central Pacific Bank Trust Division lifted its stake in Toast by 123.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company's stock valued at $33,000 after buying an additional 521 shares during the last quarter. Finally, Silicon Valley Capital Partners purchased a new stake in Toast in the fourth quarter valued at approximately $36,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

About Toast

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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