Toast (NYSE:TOST) Downgraded by Rothschild & Co Redburn to “Hold”

Toast (NYSE:TOST) was downgraded by research analysts at Rothschild & Co Redburn from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently issued reports on TOST. Evercore upgraded Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Tuesday, January 20th. Oppenheimer restated an “outperform” rating and set a $36.00 price objective on shares of Toast in a research report on Friday. The Goldman Sachs Group lowered their price objective on Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Citigroup lowered their price objective on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Wall Street Zen cut Toast from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.84.

Toast Stock Down 3.9%

Shares of TOST stock opened at $23.24 on Tuesday. Toast has a 12 month low of $22.92 and a 12 month high of $49.66. The firm has a market cap of $11.99 billion, a PE ratio of 35.75 and a beta of 1.81. The stock has a 50 day moving average of $27.63 and a 200-day moving average of $31.47.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 20.86% and a net margin of 6.39%.The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, equities analysts predict that Toast will post 0.81 EPS for the current fiscal year.

Toast declared that its board has initiated a stock repurchase program on Thursday, February 12th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CFO Elena Gomez sold 8,929 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $233,850.51. Following the sale, the chief financial officer owned 173,064 shares of the company’s stock, valued at approximately $4,532,546.16. This represents a 4.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 3,664 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $95,960.16. Following the completion of the sale, the general counsel directly owned 243,642 shares in the company, valued at approximately $6,380,983.98. The trade was a 1.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 39,783 shares of company stock valued at $1,041,917. 12.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

Several large investors have recently made changes to their positions in TOST. Bayban bought a new stake in shares of Toast in the 4th quarter worth about $25,000. Quent Capital LLC bought a new stake in shares of Toast in the 3rd quarter worth about $27,000. SHP Wealth Management bought a new stake in shares of Toast in the 4th quarter worth about $29,000. Strive Financial Group LLC bought a new stake in shares of Toast in the 4th quarter worth about $29,000. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the last quarter. 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.