Toast (NYSE:TOST) Now Covered by Analysts at Evercore ISI

Stock analysts at Evercore ISI initiated coverage on shares of Toast (NYSE:TOST) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set an “in-line” rating and a $29.00 price target on the stock. Evercore ISI’s price target points to a potential downside of 2.60% from the company’s previous close.

A number of other research firms have also recently commented on TOST. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. Morgan Stanley upped their target price on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. The Goldman Sachs Group lowered their price target on shares of Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price objective on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price target on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Toast presently has a consensus rating of “Hold” and a consensus price target of $39.86.

Toast Stock Down 3.0 %

Shares of TOST opened at $29.77 on Wednesday. The stock has a market capitalization of $14.71 billion, a P/E ratio of -2,974.33, a PEG ratio of 2.16 and a beta of 2.00. Toast has a twelve month low of $21.32 and a twelve month high of $44.12. The firm has a fifty day simple moving average of $36.60 and a two-hundred day simple moving average of $35.79.

Toast (NYSE:TOST) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sell-side analysts expect that Toast will post 0.39 EPS for the current fiscal year.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock valued at $9,409,211 over the last three months. Corporate insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of institutional investors and hedge funds have recently bought and sold shares of TOST. State Street Corp lifted its position in shares of Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after buying an additional 206,789 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Toast during the 3rd quarter worth approximately $332,000. XTX Topco Ltd boosted its position in shares of Toast by 225.3% during the 3rd quarter. XTX Topco Ltd now owns 32,882 shares of the company’s stock valued at $931,000 after acquiring an additional 22,774 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Toast by 40.6% in the third quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after purchasing an additional 65,957 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Toast by 17.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 102,800 shares of the company’s stock worth $2,910,000 after purchasing an additional 15,000 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

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.