Toast (NYSE:TOST) Sets New 12-Month High on Analyst Upgrade

Toast, Inc. (NYSE:TOST)’s stock price hit a new 52-week high during trading on Thursday after Piper Sandler raised their price target on the stock from $20.00 to $25.00. Piper Sandler currently has a neutral rating on the stock. Toast traded as high as $27.57 and last traded at $26.58, with a volume of 1499676 shares trading hands. The stock had previously closed at $26.82.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group increased their price target on Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on shares of Toast from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday. Needham & Company LLC raised their price objective on shares of Toast from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird boosted their target price on Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Redburn Atlantic upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average price target of $25.80.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the sale, the executive now owns 22,956 shares of the company’s stock, valued at $579,409.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the transaction, the president now directly owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the sale, the executive now owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The disclosure for this sale can be found here. Insiders have sold a total of 180,510 shares of company stock worth $4,381,885 in the last 90 days. Corporate insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Toast by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock worth $669,729,000 after acquiring an additional 1,598,248 shares in the last quarter. Capital International Investors raised its position in shares of Toast by 9.1% in the 4th quarter. Capital International Investors now owns 29,349,685 shares of the company’s stock valued at $535,925,000 after buying an additional 2,449,778 shares in the last quarter. HMI Capital Management L.P. lifted its holdings in shares of Toast by 5.6% during the 4th quarter. HMI Capital Management L.P. now owns 15,189,265 shares of the company’s stock worth $277,356,000 after acquiring an additional 808,244 shares during the period. Morgan Stanley boosted its position in shares of Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after acquiring an additional 7,191,595 shares in the last quarter. Finally, Abdiel Capital Advisors LP raised its position in Toast by 0.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock valued at $199,280,000 after purchasing an additional 37,091 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

The company has a market cap of $12.00 billion, a price-to-earnings ratio of -52.59 and a beta of 1.77. The business has a fifty day moving average price of $23.71 and a 200 day moving average price of $19.57.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business posted ($0.16) earnings per share. The firm’s revenue was up 31.3% on a year-over-year basis. As a group, equities analysts anticipate that Toast, Inc. will post -0.22 EPS for the current year.

Toast Company Profile

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.