Toast (NYSE:TOST) Sets New 1-Year High on Analyst Upgrade

Toast, Inc. (NYSE:TOST - Get Free Report)'s stock price hit a new 52-week high on Thursday after Jefferies Financial Group raised their price target on the stock from $50.00 to $54.00. Jefferies Financial Group currently has a buy rating on the stock. Toast traded as high as $47.46 and last traded at $45.89, with a volume of 1159874 shares trading hands. The stock had previously closed at $45.14.

A number of other research firms have also commented on TOST. BMO Capital Markets boosted their price objective on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. DA Davidson reduced their price target on shares of Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI started coverage on shares of Toast in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price objective for the company. Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, The Goldman Sachs Group reduced their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Twelve analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.76.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 34,170 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul D. Bell sold 11,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the transaction, the director owned 229,680 shares of the company's stock, valued at $10,365,458.40. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 466,131 shares of company stock valued at $20,048,851. 13.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several large investors have recently made changes to their positions in TOST. Wayfinding Financial LLC acquired a new position in Toast in the 1st quarter worth $34,000. Piscataqua Savings Bank boosted its position in shares of 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. West Branch Capital LLC grew its holdings in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after buying an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after buying an additional 284 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after acquiring an additional 1,022 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Stock Performance

The stock has a market cap of $23.19 billion, a price-to-earnings ratio of 202.43 and a beta of 2.00. The business has a 50-day simple moving average of $43.31 and a two-hundred day simple moving average of $38.82.

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.