Toast (NYSE:TOST) Price Target Raised to $35.00

Toast (NYSE:TOST) had its price target hoisted by Keefe, Bruyette & Woods from $30.00 to $35.00 in a report issued on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

Several other research firms also recently issued reports on TOST. Royal Bank Of Canada lifted their price objective on Toast from $31.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday. Citigroup upped their target price on Toast from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC boosted their target price on shares of Toast from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial increased their price target on Toast from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.62.

Toast Stock Down 0.7%

Shares of TOST stock opened at $34.47 on Wednesday. The stock has a market cap of $17.72 billion, a price-to-earnings ratio of 44.19 and a beta of 1.72. The firm’s 50 day moving average price is $28.44 and its two-hundred day moving average price is $27.90. Toast has a fifty-two week low of $22.26 and a fifty-two week high of $46.11.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, equities analysts forecast that Toast will post 0.98 EPS for the current fiscal year.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 16,176 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total value of $570,851.04. Following the completion of the sale, the chief financial officer owned 168,974 shares of the company’s stock, valued at $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. The sale 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, CRO Jonathan Vassil sold 14,280 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $32.89, for a total value of $469,669.20. Following the sale, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,301,181.74. This trade represents a 16.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 333,373 shares of company stock worth $10,388,372 over the last quarter. 10.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

A number of hedge funds have recently made changes to their positions in TOST. NewEdge Advisors LLC grew its holdings in shares of Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Toast by 24.0% in the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after acquiring an additional 15,774 shares during the last quarter. State Street Corp lifted its holdings in Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after acquiring an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new position in shares of Toast in the second quarter valued at approximately $4,479,000. Finally, Sei Investments Co. raised its stake in shares of Toast by 24.6% in the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after purchasing an additional 203,404 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

More Toast News

Here are the key news stories impacting Toast this week:

• Positive Sentiment: Analysts raise price targets: BMO Capital Markets lifted its Toast price target to $40, while Needham and Keefe, Bruyette & Woods also expressed expectations for meaningful appreciation. These calls reinforce the bullish case following Toast’s growth and improving profitability. BMO Capital Markets Raises Toast Price Target Needham Forecasts Toast Price Appreciation Keefe Bruyette Woods Toast Outlook
• Positive Sentiment: AI and partnership momentum: A report highlights Toast’s AI initiatives and relationships with Google and hotel operators as potential catalysts for expanding its addressable market and strengthening the long-term growth story. Toast AI, Google, and Hotel Partnership Report
• Positive Sentiment: Options activity signals bullish positioning: High trading volume in Toast call options suggests some traders are positioning for additional upside, although options activity is a market signal rather than a change in fundamentals. Toast High Call Option Volume
• Neutral Sentiment: Mixed quarterly results: Toast exceeded revenue expectations, reporting $1.91 billion, up 23.1% year over year, but adjusted earnings per share fell short of consensus estimates. The revenue growth supports the bull case, while the earnings miss raises questions about execution and near-term margins. Toast Second Quarter Sales Report
• Negative Sentiment: Valuation concerns: A Seeking Alpha analysis recommended trimming the position, arguing that Toast’s valuation could become difficult to justify if growth or profitability slows. This is a risk after the stock’s recent rally. Toast Valuation Downgrade
• Negative Sentiment: Executives sell shares: CEO Aman Narang sold approximately $4.9 million of Toast stock, while the CFO and CRO also sold shares. Because the transactions were made under pre-arranged Rule 10b5-1 plans, they may reflect scheduled diversification rather than diminished confidence, but the volume can still weigh on sentiment.

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.