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Wall Street Was Disappointed By Toast Inc. (NYSE: TOST)’s -2.98% Stock Price Decline

Toast Inc. (NYSE:TOST) has seen 1.01 million shares traded in the recent trading session. The company, currently valued at $10.80B, closed the recent trade at $21.67 per share which meant it lost -$0.67 on the day or -2.98% during that session. The TOST stock price is -41.21% off its 52-week high price of $30.60 and 45.04% above the 52-week low of $11.91. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.17 million shares traded. The 3-month trading volume is 5.55 million shares.

The consensus among analysts is that Toast Inc. (TOST) is an Overweight stock at the moment, with a recommendation rating of 2.30. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 8 out of 20 have rated it as a Hold, with 10 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.13.

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Toast Inc. (NYSE:TOST) trade information

Sporting -2.98% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the TOST stock price touched $21.67 or saw a rise of 3.09%. Year-to-date, Toast Inc. shares have moved 23.90%, while the 5-day performance has seen it change 12.20%. Over the past 30 days, the shares of Toast Inc. (NYSE:TOST) have changed 26.93%. Short interest in the company has seen 18.89 million shares shorted with days to cover at 3.62.

Wall Street analysts have a consensus price target for the stock at $24.09, which means that the shares’ value could jump 10.05% from the levels at last check today. The projected low price target is $18.00 while the price target rests at a high of $32.00. In that case, then, we find that the latest price level in today’s session is -47.67% off the targeted high while a plunge would see the stock lose 16.94% from the levels at last check today.

Toast Inc. (TOST) estimates and forecasts

Figures show that Toast Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 52.18% over the past 6 months, with this year growth rate of 69.05%, compared to 7.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -30.00% and -120.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 59.20%.

14 analysts offering their estimates for the company have set an average revenue estimate of $743.19 million for the current quarter. 13 have an estimated revenue figure of $749.88 million for the next quarter concluding in Mar 2023. Year-ago sales stood $512 million and $535 million respectively for this quarter and the next, and analysts expect sales will grow by 45.20% for the current quarter and 40.20% for the next.

TOST Dividends

Toast Inc. is expected to release its next earnings report on November 10 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Toast Inc. (NYSE:TOST)’s Major holders

Insiders own 6.28% of the company shares, while shares held by institutions stand at 76.87% with a share float percentage of 82.02%. Investors are also buoyed by the number of investors in a company, with Toast Inc. having a total of 387 institutions that hold shares in the company. The top two institutional holders are Price (T.Rowe) Associates Inc with over 34.93 million shares worth more than $750.94 million. As of Sep 29, 2022, Price (T.Rowe) Associates Inc held 12.33% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 27.41 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $589.38 million and represent 9.68% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Price (T.Rowe) New Horizons Fund and Amcap Fund. As of Sep 29, 2022, the former fund manager holds about 9.27% shares in the company for having 26.27 million shares of worth $564.85 million while later fund manager owns 11.14 million shares of worth $239.51 million as of Dec 30, 2022, which makes it owner of about 3.93% of company’s outstanding stock.

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