Toast (NYSE:TOST) Upgraded to “Buy” at Redburn Atlantic

Toast (NYSE:TOSTGet Free Report) was upgraded by Redburn Atlantic from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, FinViz reports. The brokerage presently has a $28.00 price target on the stock. Redburn Atlantic’s price objective would indicate a potential upside of 52.09% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Robert W. Baird upgraded Toast from a “neutral” rating to an “outperform” rating and set a $18.00 price target for the company in a report on Friday, November 10th. Morgan Stanley reduced their price target on Toast from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 8th. Royal Bank of Canada assumed coverage on Toast in a research report on Wednesday, January 31st. They set a “sector perform” rating and a $19.00 target price on the stock. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of Toast in a research report on Friday, October 20th. Finally, Piper Sandler lowered Toast from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $27.00 to $17.00 in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.15.

Check Out Our Latest Research Report on Toast

Toast Stock Performance

NYSE TOST opened at $18.41 on Wednesday. The business has a fifty day moving average price of $17.34 and a 200 day moving average price of $18.35. The company has a market cap of $7.83 billion, a P/E ratio of -29.22 and a beta of 1.65. Toast has a one year low of $13.77 and a one year high of $27.00.

Toast (NYSE:TOSTGet Free Report) last issued its earnings results on Tuesday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Toast had a negative return on equity of 27.94% and a negative net margin of 8.59%. The firm’s quarterly revenue was up 37.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.19) EPS. As a group, sell-side analysts predict that Toast will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Christopher P. Comparato sold 58,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $15.29, for a total value of $886,820.00. Following the completion of the transaction, the chief executive officer now directly owns 105,320 shares of the company’s stock, valued at $1,610,342.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Christopher P. Comparato sold 58,000 shares of Toast stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $15.29, for a total value of $886,820.00. Following the completion of the sale, the chief executive officer now owns 105,320 shares of the company’s stock, valued at $1,610,342.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Bessemer Venture Partners Ix L sold 390,856 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $17.07, for a total value of $6,671,911.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 707,513 shares of company stock valued at $12,292,808. 13.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC raised its position in shares of Toast by 2.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,958 shares of the company’s stock worth $428,000 after purchasing an additional 482 shares during the period. Advisor Group Holdings Inc. raised its position in shares of Toast by 4.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 12,738 shares of the company’s stock worth $229,000 after purchasing an additional 530 shares during the period. Brown Advisory Inc. raised its position in shares of Toast by 2.6% during the 3rd quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock worth $503,000 after purchasing an additional 675 shares during the period. Raymond James & Associates raised its position in shares of Toast by 5.1% during the 4th quarter. Raymond James & Associates now owns 14,889 shares of the company’s stock worth $268,000 after purchasing an additional 725 shares during the period. Finally, Trinity Financial Advisors LLC raised its position in shares of Toast by 3.7% during the 3rd quarter. Trinity Financial Advisors LLC now owns 21,135 shares of the company’s stock worth $396,000 after purchasing an additional 747 shares during the period. Institutional investors and hedge funds own 60.29% of the company’s stock.

About Toast

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Toast (NYSE:TOST)

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