Toast (NYSE:TOST) Earns Buy Rating from Analysts at Truist Financial

Truist Financial initiated coverage on shares of Toast (NYSE:TOST - Free Report) in a research report report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $48.00 price objective on the stock.

Several other research firms have also issued reports on TOST. Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. BMO Capital Markets increased their target price on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Robert W. Baird upped their price objective on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their price target on shares of Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.21.

Toast Price Performance

NYSE TOST traded up $1.20 during trading hours on Monday, reaching $43.04. 6,194,120 shares of the stock traded hands, compared to its average volume of 6,768,791. The company has a market cap of $21.43 billion, a price-to-earnings ratio of -4,299.70, a price-to-earnings-growth ratio of 2.16 and a beta of 2.02. Toast has a 1 year low of $21.32 and a 1 year high of $45.56. The stock has a 50 day simple moving average of $37.58 and a two-hundred day simple moving average of $38.02.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the transaction, the general counsel now directly owns 216,156 shares of the company's stock, valued at approximately $9,208,245.60. The trade was a 58.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul D. Bell sold 11,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $45.13, for a total transaction of $496,430.00. Following the completion of the sale, the director now owns 229,680 shares in the company, 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. In the last quarter, insiders sold 716,991 shares of company stock valued at $28,022,750. Company insiders own 13.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after purchasing an additional 155,446 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock worth $14,319,000 after acquiring an additional 225,215 shares during the period. New York Life Investment Management LLC acquired a new position in Toast during the fourth quarter valued at $1,572,000. BNP Paribas Financial Markets acquired a new position in Toast in the fourth quarter valued at approximately $83,684,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Toast by 129,058.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company's stock worth $75,466,000 after purchasing an additional 2,072,680 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

About Toast

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.