Analysts Set Toast, Inc. (NYSE:TOST) PT at $32.75

Toast, Inc. (NYSE:TOST) has received a consensus rating of “Hold” from the twenty-one research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $32.75.

TOST has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their price target on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Morgan Stanley increased their price objective on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group upped their price target on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th.

Toast Stock Down 1.9 %

NYSE TOST opened at $39.82 on Friday. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of -306.23 and a beta of 1.74. Toast has a twelve month low of $13.77 and a twelve month high of $41.05. The stock has a fifty day simple moving average of $29.75 and a 200 day simple moving average of $26.57.

Insider Buying and Selling

In other news, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The trade was a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aman Narang sold 10,106 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares in the company, valued at $26,883,998.15. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,475,651 shares of company stock worth $43,037,212 in the last three months. 13.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently added to or reduced their stakes in TOST. D.A. Davidson & CO. raised its stake in Toast by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after buying an additional 409 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after acquiring an additional 421 shares during the period. Private Advisor Group LLC increased its position in Toast by 1.6% during the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after acquiring an additional 441 shares during the last quarter. CIBC Asset Management Inc boosted its position in Toast by 3.7% in the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock worth $357,000 after purchasing an additional 448 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after purchasing an additional 496 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.