Toast (NYSE:TOST) Given “Neutral” Rating at Mizuho

Mizuho reiterated their neutral rating on shares of Toast (NYSE:TOST) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $17.00 target price on the stock.

A number of other brokerages have also recently weighed in on TOST. Redburn Atlantic upgraded Toast from a neutral rating to a buy rating and set a $28.00 price objective for the company in a research note on Wednesday, February 7th. The Goldman Sachs Group raised shares of Toast from a neutral rating to a buy rating and lifted their price objective for the stock from $16.00 to $24.00 in a research report on Wednesday, January 10th. Wells Fargo & Company increased their target price on shares of Toast from $12.00 to $15.00 and gave the company an underweight rating in a research report on Friday, February 16th. Piper Sandler lifted their price target on shares of Toast from $18.00 to $20.00 and gave the stock a neutral rating in a report on Friday, February 16th. Finally, Royal Bank of Canada upped their price target on Toast from $19.00 to $23.00 and gave the stock a sector perform rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $22.85.

Toast Stock Down 0.6 %

TOST opened at $24.33 on Wednesday. Toast has a 52 week low of $13.77 and a 52 week high of $27.00. The company has a market capitalization of $10.63 billion, a P/E ratio of -47.70 and a beta of 1.78. The stock’s fifty day moving average is $21.25 and its two-hundred day moving average is $18.57.

Toast (NYSE:TOST) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. Equities analysts anticipate that Toast will post -0.22 earnings per share for the current year.

Insider Activity at Toast

In other Toast news, insider James Michael Matlock sold 5,804 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $18.72, for a total transaction of $108,650.88. Following the completion of the sale, the insider now owns 43,884 shares of the company’s stock, valued at $821,508.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Toast news, insider James Michael Matlock sold 5,804 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $18.72, for a total transaction of $108,650.88. Following the completion of the transaction, the insider now owns 43,884 shares of the company’s stock, valued at $821,508.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the sale, the executive now owns 22,956 shares of the company’s stock, valued at $579,409.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,444 shares of company stock worth $7,276,642. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TOST. Raymond James & Associates raised its holdings in shares of Toast by 115.4% in the 1st quarter. Raymond James & Associates now owns 24,946 shares of the company’s stock valued at $542,000 after buying an additional 13,364 shares during the period. HighTower Advisors LLC increased its stake in Toast by 78.2% during the first quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock worth $616,000 after purchasing an additional 12,446 shares during the period. Citigroup Inc. acquired a new stake in shares of Toast during the first quarter worth about $438,000. Ergoteles LLC purchased a new position in shares of Toast in the first quarter valued at approximately $2,427,000. Finally, First Trust Advisors LP acquired a new position in shares of Toast in the first quarter valued at approximately $33,356,000. 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.