Toast (NYSE:TOST) Sets New 52-Week High – Still a Buy?

Toast, Inc. (NYSE:TOST) reached a new 52-week high on Wednesday . The company traded as high as $31.73 and last traded at $31.49, with a volume of 1312579 shares. The stock had previously closed at $30.81.

Wall Street Analysts Forecast Growth

TOST has been the subject of several recent research reports. Wedbush raised Toast to a “strong-buy” rating in a research note on Friday, September 6th. Stephens upped their target price on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird boosted their target price on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.30.

Toast Stock Up 4.3 %

The business has a fifty day simple moving average of $27.78 and a two-hundred day simple moving average of $25.81. The company has a market cap of $14.82 billion, a P/E ratio of -110.82 and a beta of 1.74.

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

Insider Transactions at Toast

In other news, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,375,651 shares of company stock valued at $38,150,212 over the last 90 days. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TOST. Stephens Investment Management Group LLC lifted its position in Toast by 13.1% during the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock valued at $53,358,000 after acquiring an additional 218,959 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Toast in the 1st quarter worth approximately $5,078,000. QRG Capital Management Inc. increased its holdings in shares of Toast by 39.7% during the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock valued at $2,190,000 after purchasing an additional 24,164 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of Toast in the first quarter worth about $633,000. Finally, Duality Advisers LP acquired a new position in Toast in the 1st quarter worth about $1,172,000. 82.91% of the stock is currently owned by 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.