Toast (NYSE:TOST) PT Lowered to $26.00 at Bank of America

Toast (NYSE:TOST) had its price objective cut by investment analysts at Bank of America from $28.00 to $26.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target suggests a potential upside of 12.75% from the company’s previous close.

TOST has been the topic of a number of other research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $26.00 target price on shares of Toast in a report on Wednesday, May 29th. Wedbush reissued an “outperform” rating and set a $30.00 price objective on shares of Toast in a report on Thursday, May 30th. Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Tuesday, May 21st. Piper Sandler raised their price objective on Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Finally, Baird R W downgraded Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.55.

Toast Stock Performance

Shares of NYSE TOST traded down $1.13 during trading hours on Wednesday, reaching $23.06. 10,583,370 shares of the stock were exchanged, compared to its average volume of 7,870,517. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of -47.34 and a beta of 1.76. Toast has a 52 week low of $13.77 and a 52 week high of $27.90. The stock’s fifty day simple moving average is $24.76 and its 200 day simple moving average is $23.53.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. Research analysts predict that Toast will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 6,355 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the transaction, the chief executive officer now directly owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Aman Narang sold 6,355 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the completion of the transaction, the chief executive officer now directly owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elena Gomez sold 12,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $25.43, for a total value of $317,875.00. Following the completion of the transaction, the chief financial officer now directly owns 200,561 shares of the company’s stock, valued at $5,100,266.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 368,352 shares of company stock valued at $9,381,482. Company insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Large investors have recently modified their holdings of the business. LRI Investments LLC bought a new stake in Toast during the 1st quarter valued at approximately $27,000. West Branch Capital LLC purchased a new position in shares of Toast during the second quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Toast during the second quarter valued at approximately $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of Toast during the second quarter valued at approximately $34,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Toast during the first quarter valued at approximately $37,000. 82.91% of the stock is 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.