Analysts Set Toast, Inc. (NYSE:TOST) PT at $37.84

Shares of Toast, Inc. (NYSE:TOST) have been assigned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $37.84.

A number of analysts recently commented on TOST shares. The Goldman Sachs Group lowered their target price on shares of Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. Loop Capital started coverage on shares of Toast in a research note on Tuesday, March 31st. They issued a “hold” rating and a $26.00 target price for the company. Morgan Stanley set a $45.00 target price on shares of Toast in a research note on Friday, May 8th. Needham & Company LLC lowered their target price on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research note on Wednesday.

Insider Buying and Selling

In related news, President Stephen Fredette sold 7,289 shares of Toast stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $190,898.91. Following the completion of the sale, the president directly owned 920,985 shares in the company, valued at $24,120,597.15. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian R. Elworthy sold 3,664 shares of Toast stock in a transaction that occurred on 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 owned 243,642 shares of the company’s stock, valued at $6,380,983.98. This trade represents a 1.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 39,783 shares of company stock worth $1,041,917 over the last ninety days. Company insiders own 12.14% of the company’s stock.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently bought and sold shares of TOST. Bayban acquired a new stake in Toast during the 4th quarter valued at approximately $25,000. SHP Wealth Management acquired a new stake in Toast during the 4th quarter valued at approximately $29,000. Strive Financial Group LLC acquired a new stake in Toast during the 4th quarter valued at approximately $29,000. Central Pacific Bank Trust Division lifted its stake in Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after acquiring an additional 521 shares during the period. Finally, Silicon Valley Capital Partners acquired a new stake in Toast during the 4th quarter valued at approximately $36,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Up 0.0%

Shares of Toast stock opened at $23.17 on Wednesday. The firm’s 50 day moving average price is $26.62 and its 200-day moving average price is $30.69. Toast has a 52-week low of $22.26 and a 52-week high of $49.66. The company has a market cap of $11.95 billion, a P/E ratio of 35.64 and a beta of 1.81.

Toast announced that its board has approved a share repurchase program on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.