Toast (NYSE:TOST) Reaches New 1-Year High - Time to Buy?

Toast, Inc. (NYSE:TOST - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $46.57 and last traded at $44.78, with a volume of 3356081 shares trading hands. The stock had previously closed at $44.83.

Analyst Ratings Changes

Several brokerages recently weighed in on TOST. Wall Street Zen lowered Toast from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a report on Wednesday, April 23rd. Wells Fargo & Company upped their target price on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Truist Financial initiated coverage on Toast in a report on Monday, June 2nd. They set a "buy" rating and a $48.00 target price for the company. Finally, Piper Sandler upped their target price on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Toast currently has a consensus rating of "Hold" and an average price target of $41.21.

Toast Price Performance

The firm's 50 day moving average is $42.57 and its 200 day moving average is $38.61. The company has a market cap of $21.61 billion, a PE ratio of 188.70 and a beta of 2.00.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 34,170 shares of the business'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 transaction of $1,454,275.20. Following the completion of the transaction, the chief financial officer owned 139,357 shares of the company's stock, valued at approximately $5,931,033.92. The trade was 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 accessible through the SEC website. Also, CEO Aman Narang sold 13,829 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the transaction, the chief executive officer directly owned 302,498 shares of the company's stock, valued at approximately $12,883,389.82. This represents a 4.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 536,131 shares of company stock valued at $22,443,551 in the last quarter. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently bought and sold shares of TOST. Vanguard Group Inc. raised its holdings in Toast by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after buying an additional 1,471,352 shares during the last quarter. Capital International Investors increased its stake in Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after purchasing an additional 785,641 shares in the last quarter. FMR LLC boosted its holdings in shares of Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after acquiring an additional 5,403,896 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 worth $777,978,000 after buying an additional 3,490,686 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings 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 worth $514,811,000 after buying an additional 1,082,958 shares during the last quarter. 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.