Toast (NYSE:TOST) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Toast (NYSE:TOST) in a research note published on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $40.00 target price on the stock.

Several other equities research analysts also recently weighed in on the company. Truist Financial upped their target price on Toast from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a research report on Sunday, October 4th. Keefe, Bruyette & Woods raised their price target on shares of Toast from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Toast from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Oppenheimer upped their price target on shares of Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Seventeen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and a consensus target price of $39.15.

Toast Price Performance

Shares of NYSE TOST opened at $31.68 on Thursday. Toast has a 12-month low of $22.26 and a 12-month high of $39.72. The company has a market capitalization of $16.28 billion, a PE ratio of 40.61 and a beta of 1.74. The firm’s 50-day moving average is $32.59 and its two-hundred day moving average is $29.21.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $0.13 earnings per share. Toast’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, analysts forecast that Toast will post 1.00 EPS for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 85,280 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $36.34, for a total transaction of $3,099,075.20. Following the sale, the executive directly owned 69,966 shares of the company’s stock, valued at approximately $2,542,564.44. This represents a 54.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 16,176 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total transaction of $570,851.04. Following the completion of the transaction, the chief financial officer owned 168,974 shares in the company, valued at approximately $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 534,830 shares of company stock valued at $18,566,600 over the last 90 days. 10.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TOST. Brindle & Bay Financial Advisors LLC acquired a new stake in Toast during the third quarter worth about $204,000. State of Alaska Department of Revenue lifted its holdings in Toast by 5.4% in the third quarter. State of Alaska Department of Revenue now owns 48,689 shares of the company’s stock worth $1,411,000 after acquiring an additional 2,489 shares during the last quarter. Signal Advisors Wealth LLC acquired a new position in Toast in the third quarter valued at approximately $225,000. B. Riley Wealth Advisors Inc. acquired a new position in Toast in the third quarter valued at approximately $203,000. Finally, Avior Wealth Management LLC acquired a new position in Toast in the third quarter valued at approximately $209,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.