Toast, Inc. (NYSE:TOST) Receives Consensus Rating of “Hold” from Analysts

Toast, Inc. (NYSE:TOST) has earned an average rating of “Hold” from the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $20.72.

A number of analysts have recently weighed in on the company. Mizuho lowered Toast from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $30.00 to $16.00 in a research report on Monday, October 2nd. Piper Sandler cut shares of Toast from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $27.00 to $17.00 in a report on Wednesday, November 8th. Morgan Stanley decreased their price target on Toast from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, November 8th. Wells Fargo & Company cut their target price on Toast from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 8th. Finally, Robert W. Baird upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Friday.

Insider Buying and Selling

In other Toast news, COO Aman Narang sold 248,509 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $20.41, for a total transaction of $5,072,068.69. Following the completion of the transaction, the chief operating officer now directly owns 1,143,549 shares in the company, valued at approximately $23,339,835.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Aman Narang sold 248,509 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $20.41, for a total value of $5,072,068.69. Following the completion of the transaction, the chief operating officer now directly owns 1,143,549 shares of the company’s stock, valued at $23,339,835.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher P. Comparato sold 58,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $20.22, for a total value of $1,172,760.00. Following the sale, the chief executive officer now directly owns 209,382 shares in the company, valued at approximately $4,233,704.04. The disclosure for this sale can be found here. Insiders have sold 402,322 shares of company stock worth $7,938,852 in the last three months. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Toast in the second quarter valued at approximately $29,000. Baystate Wealth Management LLC purchased a new position in shares of Toast in the 3rd quarter worth $29,000. BluePath Capital Management LLC purchased a new stake in Toast during the third quarter valued at about $30,000. Whittier Trust Co. increased its stake in Toast by 365.0% during the first quarter. Whittier Trust Co. now owns 1,660 shares of the company’s stock worth $29,000 after acquiring an additional 1,303 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of Toast during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 60.29% of the company’s stock.

Toast Stock Down 2.1 %

TOST opened at $13.81 on Tuesday. Toast has a 52 week low of $13.80 and a 52 week high of $27.00. The business has a fifty day simple moving average of $18.07 and a 200-day simple moving average of $20.42. The firm has a market cap of $5.87 billion, a P/E ratio of -21.92 and a beta of 1.77.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Toast had a negative net margin of 8.59% and a negative return on equity of 27.94%. The business’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. Sell-side analysts expect that Toast will post -0.54 earnings per share for the current year.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast POS, a software module that integrates payment processing with point of sale functionality; Toast Invoicing that allows restaurants to send invoices and collect payment; Toast Mobile Order & Pay, which allows guests to scan a QR code to browse the menu, order, and pay from mobile; Kitchen Display System software that connects the house with the kitchen staff; and Multi-Location Management, a tool to manage operations and configure menus across multiple locations and channels.