Toast (NYSE:TOST) Hits New 12-Month High – Time to Buy?

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

Analysts Set New Price Targets

Several research analysts recently commented on TOST shares. Wedbush raised Toast to a “strong-buy” rating in a research note on Friday, September 6th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. Robert W. Baird boosted their price target on shares of Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Stephens boosted their price objective on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group raised their target price on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.30.

Toast Stock Performance

The company has a market capitalization of $14.82 billion, a PE ratio of -110.82 and a beta of 1.74. The stock’s 50-day simple moving average is $27.78 and its 200 day simple moving average is $25.81.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, analysts expect that Toast, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the transaction, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Toast news, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the completion of the transaction, the executive now directly owns 39,834 shares in the company, valued at approximately $1,238,040.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,375,651 shares of company stock worth $38,150,212. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TOST. Allspring Global Investments Holdings LLC boosted its position in shares of Toast by 52.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,910 shares of the company’s stock worth $97,000 after acquiring an additional 1,345 shares during the last quarter. Norden Group LLC acquired a new stake in Toast during the first quarter worth about $254,000. Capstone Investment Advisors LLC acquired a new position in shares of Toast in the 1st quarter valued at about $212,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Toast by 497.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,258 shares of the company’s stock worth $879,000 after purchasing an additional 29,355 shares during the period. Finally, Duality Advisers LP acquired a new stake in Toast during the 1st quarter worth approximately $1,172,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.