Toast (NYSE:TOST) Price Target Lowered to $43.00 at Truist Financial

Toast (NYSE:TOST) had its target price cut by equities researchers at Truist Financial from $47.00 to $43.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 17.71% from the company’s previous close.

Several other analysts have also recently issued reports on the company. Jefferies Financial Group decreased their price objective on Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a report on Wednesday, October 8th. Canaccord Genuity Group boosted their price objective on shares of Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Morgan Stanley upped their price objective on Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Robert W. Baird cut their target price on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.45.

Toast Stock Performance

Shares of Toast stock traded down $1.81 during trading hours on Thursday, hitting $36.53. The company’s stock had a trading volume of 2,997,687 shares, compared to its average volume of 7,610,564. The company has a market cap of $18.81 billion, a PE ratio of 84.92 and a beta of 1.94. The business has a 50 day moving average price of $37.98 and a two-hundred day moving average price of $41.47. Toast has a 12-month low of $28.12 and a 12-month high of $49.66.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $0.07 EPS. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, research analysts anticipate that Toast will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $268,478.00. Following the completion of the transaction, the president directly owned 898,475 shares in the company, valued at $31,949,771. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jonathan Vassil sold 6,530 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $232,206.80. Following the completion of the transaction, the executive owned 69,932 shares in the company, valued at approximately $2,486,781.92. This trade represents a 8.54% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 62,259 shares of company stock valued at $2,299,020. Insiders own 12.14% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently modified their holdings of TOST. RiverPark Advisors LLC acquired a new stake in Toast in the second quarter valued at approximately $30,000. Ameritas Advisory Services LLC purchased a new position in shares of Toast during the 2nd quarter valued at approximately $31,000. Quent Capital LLC acquired a new stake in Toast in the 3rd quarter valued at $27,000. REAP Financial Group LLC increased its holdings in Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after acquiring an additional 506 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in Toast during the third quarter worth $30,000. Hedge funds and other institutional investors 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.