Toast (NYSE:TOST) Reaches New 1-Year Low – What’s Next?

Toast, Inc. (NYSE:TOST) shares hit a new 52-week low on Wednesday . The company traded as low as $27.70 and last traded at $27.33, with a volume of 1012533 shares. The stock had previously closed at $28.25.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup upgraded Toast to a “strong-buy” rating in a research note on Thursday, October 23rd. Truist Financial set a $42.00 price target on Toast in a report on Tuesday, January 20th. Morgan Stanley lifted their price target on Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group cut their price objective on shares of Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $45.55.

Toast Trading Down 1.5%

The stock has a market capitalization of $14.33 billion, a PE ratio of 64.72 and a beta of 1.93. The stock has a 50 day moving average price of $34.61 and a 200-day moving average price of $38.27.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.Toast’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS. Research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of Toast stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $113,557.14. Following the transaction, the general counsel owned 235,757 shares of the company’s stock, valued at $8,105,325.66. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan Vassil sold 4,787 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $164,577.06. Following the sale, the executive owned 79,802 shares in the company, valued at $2,743,592.76. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 94,609 shares of company stock worth $3,350,915. Company insiders own 12.14% of the company’s stock.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOST. Pier 88 Investment Partners LLC grew its stake in Toast by 23.4% during the fourth quarter. Pier 88 Investment Partners LLC now owns 16,430 shares of the company’s stock valued at $583,000 after acquiring an additional 3,120 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Toast by 35.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,024 shares of the company’s stock valued at $285,000 after buying an additional 2,105 shares in the last quarter. Pandora Wealth Inc. bought a new stake in Toast in the 4th quarter worth approximately $178,000. Lighthouse Financial Services Inc. ADV purchased a new stake in shares of Toast during the 4th quarter worth approximately $598,000. Finally, International Assets Investment Management LLC bought a new position in shares of Toast during the 4th quarter valued at approximately $155,000. Institutional investors own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.