Toast (NYSE:TOST) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Toast (NYSE:TOST) in a report released on Thursday,Benzinga reports. The firm currently has a $50.00 price objective on the stock.

A number of other research firms have also recently issued reports on TOST. Compass Point assumed coverage on Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price for the company. The Goldman Sachs Group lowered their target price on Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Wedbush increased their target price on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Robert W. Baird increased their target price on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, DA Davidson reiterated a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.23.

Toast Stock Performance

TOST opened at $40.45 on Thursday. Toast has a 12 month low of $20.49 and a 12 month high of $44.12. The company has a fifty day simple moving average of $38.60 and a 200 day simple moving average of $33.35.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. On average, analysts forecast that Toast will post 0.38 EPS for the current fiscal year.

Insider Activity at Toast

In related news, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now owns 182,451 shares of the company’s stock, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 339,564 shares of company stock worth $13,577,845. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank acquired a new stake in Toast during the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast during the fourth quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new stake in Toast during the fourth quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Toast during the fourth quarter worth approximately $40,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.