Toast, Inc. (NYSE:TOST) Receives Consensus Rating of “Moderate Buy” from Brokerages

Toast, Inc. (NYSE:TOST) has been given an average recommendation of “Moderate Buy” by the twenty-seven research firms that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $37.6154.

TOST has been the subject of several analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Citigroup decreased their price objective on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday, May 8th. DA Davidson decreased their price objective on shares of Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Oppenheimer restated an “outperform” rating and set a $36.00 price objective on shares of Toast in a report on Friday, May 8th. Finally, Truist Financial decreased their price objective on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the sale, the general counsel directly owned 189,642 shares in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 8,929 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $233,850.51. Following the sale, the chief financial officer directly owned 173,064 shares in the company, valued at $4,532,546.16. This trade represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 147,783 shares of company stock valued at $3,838,037. 10.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Capital International Investors lifted its stake in Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after purchasing an additional 3,351,545 shares during the last quarter. Vanguard Group Inc. increased its holdings in Toast by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock worth $1,634,339,000 after purchasing an additional 352,435 shares during the period. Jennison Associates LLC boosted its position in Toast by 1.0% in the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after purchasing an additional 157,394 shares in the last quarter. Morgan Stanley raised its stake in Toast by 6.7% during the fourth quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after purchasing an additional 653,487 shares during the period. Finally, State Street Corp grew its holdings in shares of Toast by 3.0% in the fourth quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after purchasing an additional 282,282 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Up 1.0%

Shares of Toast stock opened at $24.65 on Friday. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of 37.92 and a beta of 1.76. Toast has a 1-year low of $22.26 and a 1-year high of $49.66. The firm’s 50-day moving average price is $25.85 and its two-hundred day moving average price is $29.30.

About Toast

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.