Toast (NYSE:TOST) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Toast (NYSE:TOST) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

TOST has been the subject of a number of other reports. Citigroup decreased their price target on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday, May 8th. Morgan Stanley set a $45.00 target price on Toast in a research report on Friday, May 8th. BMO Capital Markets restated an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Mizuho lowered their price target on Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and an average price target of $37.41.

Toast Price Performance

NYSE TOST opened at $28.58 on Tuesday. Toast has a 12 month low of $22.26 and a 12 month high of $49.66. The company has a 50-day moving average of $25.68 and a 200-day moving average of $28.52. The company has a market cap of $14.75 billion, a P/E ratio of 43.97 and a beta of 1.74.

Insider Buying and Selling at Toast

In other news, CFO Elena Gomez sold 11,605 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $334,804.25. Following the sale, the chief financial officer owned 185,150 shares of the company’s stock, valued at $5,341,577.50. The trade was a 5.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,146 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $263,862.10. Following the completion of the sale, the president directly owned 931,449 shares in the company, valued at $26,872,303.65. This trade represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 156,115 shares of company stock worth $4,184,238. 10.03% of the stock is currently owned by company insiders.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently made changes to their positions in TOST. Chesley Taft & Associates LLC acquired a new stake in shares of Toast during the second quarter worth $1,602,000. Wynn Capital LLC increased its stake in Toast by 4.2% in the second quarter. Wynn Capital LLC now owns 14,615 shares of the company’s stock valued at $407,000 after purchasing an additional 595 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in Toast by 14.4% during the second quarter. Elevation Wealth Partners LLC now owns 16,756 shares of the company’s stock worth $466,000 after buying an additional 2,113 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in Toast by 11.2% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 85,660 shares of the company’s stock worth $2,383,000 after buying an additional 8,600 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Toast by 47.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company’s stock worth $27,008,000 after buying an additional 312,077 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

More Toast News

Here are the key news stories impacting Toast this week:

• Positive Sentiment: Toast received an average analyst rating of “Moderate Buy,” reinforcing a generally bullish longer-term view on the stock. Article Title
• Positive Sentiment: Robert W. Baird raised its price target on Toast to $33 from $30, signaling continued expectations for upside even while keeping a neutral rating. Article Title
• Positive Sentiment: Several large institutional investors increased their Toast holdings, which can support the stock by showing professional money managers remain interested in the company. Article Title
• Neutral Sentiment: Toast’s general counsel sold shares, but the filing says the sale was to cover tax withholding tied to equity vesting, making it less concerning than a discretionary insider exit. Article Title
• Negative Sentiment: The stock underperformed the broader market in the latest session, and the recent decline may reflect profit-taking after a run-up. Article Title

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.