Toast (NYSE:TOST) Cut to "Buy" at Wall Street Zen

Toast (NYSE:TOST - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

TOST has been the topic of a number of other reports. BMO Capital Markets lifted their price objective on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Robert W. Baird increased their price objective on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Piper Sandler lifted their target price on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. BNP Paribas set a $37.00 price target on Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price objective on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.21.

Toast Price Performance

TOST stock traded down $0.14 during trading on Friday, hitting $41.49. 726,577 shares of the stock traded hands, compared to its average volume of 6,752,615. The firm's 50 day moving average is $37.41 and its two-hundred day moving average is $37.99. The stock has a market cap of $20.66 billion, a price-to-earnings ratio of -4,140.96, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast has a 1 year low of $21.32 and a 1 year high of $45.56.

Insider Activity

In other Toast news, Director Paul D. Bell sold 11,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the sale, the director now directly owns 229,680 shares of the company's stock, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 70,340 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now owns 1,574,316 shares of the company's stock, valued at approximately $53,322,082.92. This represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 716,991 shares of company stock worth $28,022,750. 13.32% of the stock is currently owned by company insiders.

Institutional Trading of Toast

Large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after acquiring an additional 378 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Toast during the 4th quarter worth $34,000. Wayfinding Financial LLC acquired a new stake in shares of Toast during the 1st quarter worth about $34,000. SBI Securities Co. Ltd. acquired a new position in Toast in the fourth quarter valued at about $35,000. Finally, Piscataqua Savings Bank boosted its stake in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

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.