Toast (NYSE:TOST) Sets New 1-Year High at $27.92

Shares of Toast, Inc. (NYSE:TOST) reached a new 52-week high on Monday . The company traded as high as $27.92 and last traded at $27.92, with a volume of 3910 shares changing hands. The stock had previously closed at $27.71.

Wall Street Analyst Weigh In

Several analysts have recently commented on TOST shares. Bank of America increased their target price on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $26.00 target price on shares of Toast in a research report on Wednesday, May 29th. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and upped their target price for the company from $21.00 to $33.00 in a report on Thursday, July 18th. JPMorgan Chase & Co. increased their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Wedbush raised Toast to a “strong-buy” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Toast Trading Up 0.1 %

The stock has a market cap of $12.56 billion, a PE ratio of -55.42 and a beta of 1.75. The firm has a fifty day simple moving average of $25.08 and a two-hundred day simple moving average of $24.58.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) EPS. Equities analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In other news, President Stephen Fredette sold 1,127 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00. Following the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at $68,393,016. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Toast news, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $27,048.00. Following the transaction, the president now owns 2,849,709 shares in the company, valued at $68,393,016. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 4,712 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $120,815.68. Following the transaction, the executive now directly owns 31,919 shares of the company’s stock, valued at $818,403.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 652,412 shares of company stock valued at $16,213,120. Corporate insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently modified their holdings of TOST. Truist Financial Corp bought a new position in shares of Toast in the 2nd quarter worth approximately $618,000. Kampmann Melissa S. bought a new position in Toast in the second quarter worth $1,122,000. Northwestern Mutual Wealth Management Co. lifted its position in Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after buying an additional 421 shares during the period. Ascent Group LLC bought a new stake in shares of Toast during the 2nd quarter valued at $333,000. Finally, Scientech Research LLC bought a new stake in shares of Toast during the 2nd quarter valued at $236,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

About Toast

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.