Analysts Set Toast, Inc. (NYSE:TOST) Price Target at $34.81

Toast, Inc. (NYSE:TOST) has received an average recommendation of “Hold” from the twenty-two analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $34.81.

A number of analysts recently issued reports on TOST shares. Compass Point began coverage on Toast in a research note on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Morgan Stanley increased their price target on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Bank of America raised their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, Piper Sandler increased their price objective on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th.

Toast Price Performance

Shares of TOST stock opened at $38.15 on Wednesday. Toast has a 1 year low of $16.13 and a 1 year high of $44.12. The company’s fifty day simple moving average is $35.36 and its two-hundred day simple moving average is $28.65. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of -293.46, a PEG ratio of 23.57 and a beta of 1.93.

Insider Buying and Selling at Toast

In related news, Director David Yuan sold 189,785 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. This represents a 48.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Stephen Fredette sold 144,238 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $27.34, for a total value of $3,943,466.92. Following the transaction, the president now owns 2,160,499 shares in the company, valued at approximately $59,068,042.66. The trade was a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,375,061 shares of company stock worth $44,557,182 over the last ninety days. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. West Branch Capital LLC purchased a new stake in Toast during the 2nd quarter valued at $26,000. Toth Financial Advisory Corp bought a new stake in shares of Toast in the third quarter worth about $28,000. 1620 Investment Advisors Inc. bought a new stake in shares of Toast in the second quarter worth about $34,000. Raleigh Capital Management Inc. raised its position in Toast by 93.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 720 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after buying an additional 496 shares during the period. 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.