Toast (NYSE:TOST) Earns Neutral Rating from DA Davidson

Toast (NYSE:TOST)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $38.00 target price on the stock, down from their previous target price of $44.00. DA Davidson’s price objective would suggest a potential downside of 2.05% from the stock’s current price.

TOST has been the topic of several other research reports. Wedbush lifted their target price on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Robert W. Baird lifted their price objective on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Compass Point began coverage on shares of Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $45.00 price objective (up previously from $34.00) on shares of Toast in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Toast has an average rating of “Hold” and an average price target of $34.14.

Toast Stock Up 2.0 %

TOST opened at $38.80 on Thursday. The firm has a market capitalization of $18.27 billion, a P/E ratio of -298.42, a PEG ratio of 54.06 and a beta of 1.93. The stock has a fifty day moving average of $34.32 and a 200-day moving average of $28.21. Toast has a 12-month low of $14.75 and a 12-month high of $44.12.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the sale, the president now owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. This trade represents a 4.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Yuan sold 189,785 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the transaction, the director now owns 198,829 shares of the company’s stock, valued at $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,688,321 shares of company stock valued at $52,160,120 over the last ninety days. 13.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp bought a new position in Toast during the third quarter valued at $425,000. Tidal Investments LLC raised its stake in Toast by 5.4% in the third quarter. Tidal Investments LLC now owns 14,310 shares of the company’s stock valued at $405,000 after purchasing an additional 734 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Toast in the 3rd quarter worth $59,000. Sanctuary Advisors LLC bought a new stake in shares of Toast during the 3rd quarter worth $327,000. Finally, Toronto Dominion Bank grew its position in Toast by 35.4% in the third quarter. Toronto Dominion Bank now owns 46,319 shares of the company’s stock worth $1,311,000 after acquiring an additional 12,118 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

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.