Toast (NYSE:TOST) Sets New 1-Year High – Should You Buy?

Shares of Toast, Inc. (NYSE:TOST) hit a new 52-week high during trading on Monday . The company traded as high as $30.78 and last traded at $30.74, with a volume of 2307016 shares changing hands. The stock had previously closed at $29.49.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird upped their price target on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price objective on Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Morgan Stanley boosted their price objective on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.26.

Toast Stock Performance

The firm has a market capitalization of $13.90 billion, a PE ratio of -104.86 and a beta of 1.76. The company has a fifty day moving average price of $26.98 and a 200-day moving average price of $25.48.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business posted ($0.19) earnings per share. Toast’s quarterly revenue was up 27.0% on a year-over-year basis. On average, equities analysts predict that Toast, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In related news, CRO Jonathan Vassil sold 1,541 shares of Toast stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $36,984.00. Following the completion of the transaction, the executive now owns 33,312 shares in the company, valued at approximately $799,488. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CRO Jonathan Vassil sold 1,541 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $36,984.00. Following the completion of the sale, the executive now directly owns 33,312 shares of the company’s stock, valued at $799,488. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aman Narang sold 1,856 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $44,544.00. Following the transaction, the chief executive officer now directly owns 1,132,708 shares in the company, valued at approximately $27,184,992. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,387,269 shares of company stock worth $38,394,140. 13.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. grew its holdings in Toast by 10.2% during the 3rd quarter. QRG Capital Management Inc. now owns 93,664 shares of the company’s stock valued at $2,652,000 after purchasing an additional 8,697 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Toast by 67.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 240,233 shares of the company’s stock worth $6,801,000 after buying an additional 96,723 shares during the period. Westbourne Investment Advisors Inc. raised its holdings in shares of Toast by 1.3% in the third quarter. Westbourne Investment Advisors Inc. now owns 234,185 shares of the company’s stock worth $6,630,000 after buying an additional 3,106 shares during the period. GFS Advisors LLC lifted its stake in shares of Toast by 49,900.0% during the 3rd quarter. GFS Advisors LLC now owns 10,000 shares of the company’s stock worth $283,000 after acquiring an additional 9,980 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Toast by 29.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 103,110 shares of the company’s stock valued at $2,919,000 after acquiring an additional 23,345 shares during the period. Hedge funds and other 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.