Toast (NYSE:TOST) Sets New 12-Month High – Here’s Why

Toast, Inc. (NYSE:TOST) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $30.49 and last traded at $30.32, with a volume of 1206291 shares trading hands. The stock had previously closed at $29.54.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America raised their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Morgan Stanley boosted their target price on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

Toast Trading Up 3.1 %

The stock has a 50-day moving average of $26.13 and a two-hundred day moving average of $25.11. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of -101.89 and a beta of 1.76.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS. Sell-side analysts expect that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity

In related news, CEO Aman Narang sold 1,856 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $44,544.00. Following the sale, the chief executive officer now directly owns 1,132,708 shares in the company, valued at $27,184,992. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, President Stephen Fredette sold 39,768 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.02, for a total value of $1,154,067.36. Following the completion of the sale, the president now directly owns 1,795,301 shares in the company, valued at $52,099,635.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Aman Narang sold 1,856 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $44,544.00. Following the transaction, the chief executive officer now owns 1,132,708 shares in the company, valued at $27,184,992. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 840,562 shares of company stock valued at $21,982,459 in the last ninety days. 13.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. West Branch Capital LLC purchased a new position in shares of Toast in the second quarter worth about $26,000. LRI Investments LLC bought a new stake in shares of Toast during the 1st quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toast during the 2nd quarter valued at about $33,000. 1620 Investment Advisors Inc. bought a new stake in shares of Toast during the second quarter valued at about $34,000. Finally, Harbor Investment Advisory LLC purchased a new position in Toast in the first quarter worth $37,000. 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.