Toast, Inc. (NYSE:TOST) Receives $32.75 Average Price Target from Brokerages

Shares of Toast, Inc. (NYSE:TOST) have received a consensus recommendation of “Hold” from the twenty-two analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $33.86.

TOST has been the topic of several recent analyst reports. Compass Point initiated coverage on shares of Toast in a research note on Wednesday. They set a “buy” rating and a $49.00 price objective on the stock. Bank of America increased their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group increased their price target on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. 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 research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th.

Toast Price Performance

Shares of TOST opened at $42.72 on Friday. The company’s 50 day simple moving average is $31.12 and its 200 day simple moving average is $27.05. Toast has a 1 year low of $13.92 and a 1 year high of $43.29.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 2,878 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $79,922.06. Following the completion of the sale, the general counsel now directly owns 177,836 shares of the company’s stock, valued at approximately $4,938,505.72. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the sale, the president now directly owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. The trade was a 4.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,498,536 shares of company stock valued at $43,997,467. Corporate insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TOST. Capital International Investors increased its position in shares of Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares during the last quarter. FMR LLC increased its position in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the last quarter. ValueAct Holdings L.P. bought a new stake in shares of Toast in the 3rd quarter worth about $438,301,000. Finally, Champlain Investment Partners LLC increased its position in shares of Toast by 9.1% in the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after purchasing an additional 833,390 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

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.