Toast (NYSE:TOST) Downgraded to ‘Neutral’ by Robert W. Baird

Robert W. Baird downgraded the company’s shares Toast (NYSE:TOST – Free Report) from an outperform rating to a neutral rating, according to a report released Tuesday, MarketBeat.com reports. They currently have a price target of $28.00 for the stock.

Several other equity research analysts have also recently commented on the company. Mizuho increased their price target on Toast from $17.00 to $21.00 and gave the stock a Neutral rating in a report on Thursday, May 9. Piper Sandler increased their target price on Toast from $20.00 to $25.00 and gave the stock a Neutral rating in a report on Thursday, May 9th. Wells Fargo & Company raised their price target on Toast from $17.00 to $19.00 and gave the stock an underweight rating in a report on Wednesday, May 8. Royal Bank of Canada raised their target price on Toast from $23.00 to $27.00 and gave the stock a sector rating in a research note on Wednesday, May 8th. Finally, Redburn Atlantic upgraded Toast from a neutral rating to a buy rating and set a $28.00 price target for the company in a research note on Wednesday, February 7th. One investment analyst rated the company’s shares with a sell rating, nine with a hold rating, and nine with a buy rating. According to MarketBeat data, the company currently has an average rating of Hold and a consensus price target of $25.80.

Read our latest research report on toast

Toast stocks fell 1.6%

On Tuesday, NYSE TOST quotations reached $26.54. Toast has a twelve month low of $13.77 and a twelve month high of $27.90. The company has a market capitalization of $12.02 billion, a PE ratio of -53.08 and a beta of 1.77. The stock’s 50-day moving average is $24.22 and its 200-day moving average is $20.26.

Toast (NYSE:TOST – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, which was in line with the consensus estimate of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The company’s revenue for the quarter was $1.08 billion, compared to analyst estimates of $1.04 billion. During the same period last year, the company reported earnings per share ($0.16). The company’s revenues increased by 31.3% year-over-year. On average, analysts predict that Toast will see -0.16 earnings per share this year.

Insiders place their bets

In other Toast news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the sale, the CEO now owns 1,114,454 shares of the company’s stock valued at $26,078,223.60. The sale was disclosed in a document filed with the SEC, which can be accessed at this link. In related news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40 for a total transaction of $57,821.40. Following the completion of the transaction, the CEO now directly owns 1,114,454 shares of the company’s stock valued at $26,078,223.60. The sale was disclosed in a filing with the SEC, available at this link. Additionally, CFO Elena Gomez sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $26.39 for a total value of $329,875.00. Following the transaction, the CFO now directly owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The announcement of this sale can be found here. In the last quarter, insiders sold a total of 193,010 shares of company stock worth $4,711,760. Currently, 13.32% of the shares are owned by corporate insiders.

Institutional investors raise a toast

A number of hedge funds and other institutional investors have recently increased or decreased their holdings in TOST. In the third quarter, Sei Investments Co. increased its shares in Toast by 105.0%. Sei Investments Co. now owns 691,018 shares of the company’s stock valued at $12,943,000 after purchasing an additional 353,903 shares during the period. In the third quarter, Vanguard Group Inc. strengthened its position in Toast by 11.1%. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock valued at $657,032,000 after acquiring an additional 3,494,579 shares in the last quarter. ARK Investment Management LLC strengthened its position in Toast by 101.5% during the fourth quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock valued at $42,829,000 after acquiring an additional 1,181,409 shares in the last quarter. In the fourth quarter, Charles Schwab Investment Management Inc. strengthened its position in Toast by 7.0%. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock valued at $42,184,000 after acquiring an additional 150,425 shares in the last quarter. Finally, International Assets Investment Management LLC strengthened its position in Toast by 1,542.9% during the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock valued at $1,047,000 after acquiring an additional 53,846 shares in the last quarter. 82.91% of the shares are currently owned by hedge funds and other institutional investors.

Toast company profile

(Get the free report)

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland and India. The company offers restaurant and point of sale software such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile ordering and payments, Toast catering and events, Toast invoicing, Toast tables and restaurant retail; and hardware products including Toast flex, Toast flex for guests, Toast go 2, Toast tap, kiosks and Delphi by Toast.

Toast stocks fell 1.6%

Insiders place their bets

Institutional investors raise a toast

Toast company profile

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