Toast (NYSE:TOST) Rating Lowered to “Hold” at Wall Street Zen

by · The Markets Daily

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

A number of other equities research analysts have also issued reports on the company. Morgan Stanley upped their target price on Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Canaccord Genuity Group upped their target price on Toast from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft started coverage on Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, Barclays reaffirmed an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $45.54.

Read Our Latest Report on TOST

Toast Stock Performance

TOST opened at $40.74 on Friday. The business’s 50-day simple moving average is $44.82 and its 200-day simple moving average is $40.41. Toast has a one year low of $23.06 and a one year high of $49.66. The stock has a market capitalization of $20.78 billion, a P/E ratio of 119.83 and a beta of 2.00.

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

Insider Buying and Selling at Toast

In other news, CEO Aman Narang sold 1,719 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22. Following the completion of the sale, the chief executive officer directly owned 304,300 shares in the company, valued at $14,722,034. This represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 1,427 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $69,038.26. Following the sale, the executive owned 63,298 shares of the company’s stock, valued at approximately $3,062,357.24. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,342 shares of company stock worth $3,804,710. 12.14% of the stock is currently owned by company insiders.

Institutional Trading of Toast

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Orion Porfolio Solutions LLC increased its holdings in shares of Toast by 399.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 40,041 shares of the company’s stock worth $1,773,000 after buying an additional 32,028 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Toast by 1,585.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 19,378 shares of the company’s stock valued at $858,000 after purchasing an additional 18,228 shares in the last quarter. Marex Group plc acquired a new stake in Toast in the 2nd quarter valued at $465,000. Advisory Services Network LLC increased its holdings in Toast by 17.4% in the 2nd quarter. Advisory Services Network LLC now owns 11,237 shares of the company’s stock valued at $549,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Cim LLC increased its holdings in Toast by 0.7% in the 2nd quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after purchasing an additional 273 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Company Profile

(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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