Toast (NYSE:TOST) Stock Rating Raised to “Buy” at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Toast (NYSE:TOST – Free Report) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

TOST has been the topic of several other reports. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Oppenheimer increased their price target on Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Truist Financial raised their price target on Toast from $33.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. BMO Capital Markets boosted their price target on Toast from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Evercore reiterated an “outperform” rating on shares of Toast in a research note on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.12.

Get Our Latest Stock Report on TOST

Toast Trading Up 2.0%

Shares of Toast stock opened at $30.70 on Friday. The firm has a market cap of $15.78 billion, a P/E ratio of 39.36 and a beta of 1.72. Toast has a 12 month low of $22.26 and a 12 month high of $39.72. The stock’s fifty day moving average price is $33.04 and its 200-day moving average price is $28.91.

Toast (NYSE:TOST – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the company earned $0.13 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. Analysts forecast that Toast will post 1 earnings per share for the current year.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 14,280 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $33.90, for a total transaction of $484,092.00. Following the completion of the transaction, the executive directly owned 69,966 shares of the company’s stock, valued at approximately $2,371,847.40. This trade represents a 16.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 5,761 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.37, for a total transaction of $203,766.57. Following the completion of the sale, the chief financial officer directly owned 160,150 shares in the company, valued at $5,664,505.50. This trade represents a 3.47% decrease in their ownership of the stock. 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 522,533 shares of company stock worth $18,172,786 over the last quarter. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On Toast

Several hedge funds have recently added to or reduced their stakes in the business. HB Wealth Management LLC grew its position in Toast by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 12,748 shares of the company’s stock worth $355,000 after purchasing an additional 315 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Toast by 0.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after buying an additional 358 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Toast by 15.6% in the first quarter. EverSource Wealth Advisors LLC now owns 3,985 shares of the company’s stock worth $106,000 after buying an additional 539 shares during the last quarter. Wynn Capital LLC grew its holdings in Toast by 4.2% during the second quarter. Wynn Capital LLC now owns 14,615 shares of the company’s stock worth $407,000 after acquiring an additional 595 shares during the period. Finally, WCM Investment Management LLC raised its position in Toast by 1.3% during the first quarter. WCM Investment Management LLC now owns 55,059 shares of the company’s stock valued at $1,435,000 after acquiring an additional 692 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

About Toast

(Get Free Report)

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast’s integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.

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