Toast (NYSE:TOST) Stock Price Down 3%

Toast, Inc. (NYSE:TOST)’s share price dropped 3% during mid-day trading on Wednesday . The stock traded as low as $25.19 and last traded at $25.20. Approximately 2,383,347 shares changed hands during trading, a decline of 70% from the average daily volume of 8,075,104 shares. The stock had previously closed at $25.99.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TOST. Mizuho increased their price objective on Toast from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Wedbush reiterated an “outperform” rating and set a $30.00 price objective on shares of Toast in a research report on Thursday, May 30th. BNP Paribas upgraded Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Thursday, March 7th. Royal Bank of Canada increased their price objective on Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. Finally, Piper Sandler raised their price target on Toast from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and an average target price of $26.14.

Toast Trading Down 2.6 %

The firm has a fifty day simple moving average of $24.63 and a two-hundred day simple moving average of $22.20. The firm has a market cap of $11.47 billion, a PE ratio of -51.90 and a beta of 1.76.

Toast (NYSE:TOST) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS. Equities analysts expect that Toast, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In other Toast news, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 176,980 shares of the company’s stock, valued at approximately $4,670,502.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Elena Gomez sold 12,500 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 176,980 shares in the company, valued at $4,670,502.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher P. Comparato sold 80,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $24.23, for a total value of $1,938,400.00. Following the completion of the sale, the director now owns 97,762 shares in the company, valued at $2,368,773.26. The disclosure for this sale can be found here. Insiders sold a total of 197,449 shares of company stock worth $4,817,383 in the last quarter. 13.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. LRI Investments LLC bought a new stake in Toast during the 1st quarter valued at $27,000. Principal Securities Inc. purchased a new position in shares of Toast during the 4th quarter valued at about $30,000. Cape Investment Advisory Inc. acquired a new stake in shares of Toast during the 4th quarter valued at about $31,000. Harbor Investment Advisory LLC acquired a new stake in shares of Toast during the 1st quarter valued at about $37,000. Finally, Baystate Wealth Management LLC boosted its holdings in Toast by 58.2% in the 4th quarter. Baystate Wealth Management LLC now owns 2,435 shares of the company’s stock worth $44,000 after buying an additional 896 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.