Toast (NYSE:TOST) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Toast (NYSE:TOST – Free Report) from a hold rating to a buy rating in a research report released on Sunday morning.

TOST has been the subject of a number of other reports. The Goldman Sachs Group upped their price target on Toast from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Jefferies Financial Group upped their price target on Toast from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 18th. Citigroup reaffirmed a “buy” rating on shares of Toast in a report on Wednesday, July 16th. Canaccord Genuity Group upped their price target on Toast from $48.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Truist Financial upped their price target on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Fifteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.30.

View Our Latest Report on Toast

Toast Stock Performance

Shares of Toast stock opened at $39.96 on Friday. Toast has a one year low of $26.17 and a one year high of $49.66. The company has a market cap of $20.38 billion, a PE ratio of 117.53 and a beta of 2.00. The business has a 50-day simple moving average of $44.43 and a 200-day simple moving average of $40.51.

Toast (NYSE:TOST – Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share. On average, sell-side analysts predict that Toast will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Toast news, CEO Aman Narang sold 1,719 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $83,165.22. Following the completion of the sale, the chief executive officer owned 304,300 shares in the company, valued at approximately $14,722,034. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,720 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $83,213.60. Following the sale, the president owned 890,818 shares of the company’s stock, valued at $43,097,774.84. This trade represents a 0.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,342 shares of company stock valued at $3,804,710 in the last 90 days. Company insiders own 12.14% of the company’s stock.

Institutional Investors Weigh In On Toast

Several large investors have recently modified their holdings of TOST. Cetera Investment Advisers raised its stake in shares of Toast by 59.5% during the fourth quarter. Cetera Investment Advisers now owns 53,248 shares of the company’s stock worth $1,941,000 after purchasing an additional 19,861 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Toast during the fourth quarter worth approximately $337,000. Nuveen Asset Management LLC raised its stake in shares of Toast by 24.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,294,017 shares of the company’s stock worth $47,167,000 after purchasing an additional 250,851 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of Toast by 6.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 46,985 shares of the company’s stock worth $1,762,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Toast during the fourth quarter worth approximately $311,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

About Toast

(Get Free Report)

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.

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