Toast, Inc. (NYSE:TOST) Receives $40.27 Consensus Target Price from Analysts

Toast, Inc. (NYSE:TOST) has received a consensus recommendation of “Hold” from the twenty-three analysts that are covering the firm, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $40.09.

TOST has been the topic of several analyst reports. Wells Fargo & Company raised shares of Toast from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $39.00 in a report on Thursday, April 10th. Canaccord Genuity Group lifted their price objective on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Morgan Stanley reduced their price target on Toast from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Toast in a report on Thursday, February 20th. Finally, Robert W. Baird raised their target price on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th.

Toast Stock Up 0.0 %

TOST opened at $34.30 on Tuesday. Toast has a 52 week low of $21.32 and a 52 week high of $44.12. The business has a 50 day moving average price of $35.69 and a two-hundred day moving average price of $36.00. The company has a market cap of $16.95 billion, a PE ratio of -3,426.97, a P/E/G ratio of 2.16 and a beta of 2.00.

Toast (NYSE:TOST) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, sell-side analysts expect that Toast will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock valued at $9,409,211 in the last ninety days. 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. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toast in the 4th quarter worth about $282,010,000. Norges Bank bought a new position in shares of Toast in the fourth quarter valued at approximately $205,888,000. FMR LLC boosted its holdings in shares of Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after acquiring an additional 5,403,896 shares in the last quarter. Vanguard Group Inc. increased its holdings in Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its position in Toast by 898.8% in the 4th quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company’s stock valued at $104,200,000 after purchasing an additional 2,572,503 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.