Toast (NYSE:TOST) Downgraded by Robert W. Baird

Robert W. Baird cut shares of Toast (NYSE:TOST) from an outperform rating to a neutral rating in a research note released on Tuesday morning, Marketbeat Ratings reports. They currently have $28.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Mizuho upped their price objective on Toast from $17.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, May 9th. BNP Paribas upgraded Toast from a neutral rating to an outperform rating and set a $30.00 price target on the stock in a research report on Thursday, March 7th. UBS Group increased their price target on Toast from $22.00 to $31.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Redburn Atlantic upgraded 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. Finally, Wells Fargo & Company increased their price target on Toast from $17.00 to $19.00 and gave the stock an underweight rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Toast presently has a consensus rating of Hold and a consensus target price of $26.00.

Toast Trading Down 4.9 %

TOST stock opened at $25.39 on Tuesday. Toast has a 1-year low of $13.77 and a 1-year high of $27.90. The firm has a market cap of $11.50 billion, a P/E ratio of -50.77 and a beta of 1.77. The business’s 50 day moving average is $24.27 and its 200-day moving average is $20.34.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted ($0.16) EPS. The company’s revenue was up 31.3% compared to the same quarter last year. Sell-side analysts forecast that Toast will post -0.16 EPS for the current year.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now directly owns 176,980 shares in the company, valued at $4,670,502.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Toast news, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now directly owns 176,980 shares in the company, valued at $4,670,502.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Aman Narang sold 2,471 shares of Toast stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares in the company, valued at $26,078,223.60. The disclosure for this sale can be found here. Insiders have sold 193,010 shares of company stock worth $4,711,760 in the last three months. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of Toast in the 1st quarter valued at about $27,000. Washington Harbour Partners LP increased its position in shares of Toast by 164.4% in the first quarter. Washington Harbour Partners LP now owns 152,300 shares of the company’s stock valued at $3,795,000 after acquiring an additional 94,700 shares during the last quarter. XN LP increased its position in shares of Toast by 40.9% in the first quarter. XN LP now owns 5,055,225 shares of the company’s stock valued at $125,976,000 after acquiring an additional 1,467,339 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Toast in the first quarter valued at about $4,350,000. Finally, LBP AM SA acquired a new stake in shares of Toast in the first quarter valued at about $466,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.