In the latest trading session, 0.98 million Toast Inc. (NYSE:TOST) shares changed hands as the company’s beta touched 1.72. With the company’s most recent per share price at $19.91 changed hands at -$0.48 or -2.35% at last look, the market valuation stands at $11.02B. TOST’s current price is a discount, trading about -35.61% off its 52-week high of $27.00. The share price had its 52-week low at $15.77, which suggests the last value was 20.79% up since then. When we look at Toast Inc.’s average trading volume, we note the 10-day average is 6.26 million shares, with the 3-month average coming to 7.31 million.
Analysts gave the Toast Inc. (TOST) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 1 out of 22 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 11 recommended TOST as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Toast Inc.’s EPS for the current quarter is expected to be -$0.1.
Toast Inc. (NYSE:TOST) trade information
Instantly TOST was in red as seen in intraday trades today. With action -6.00%, the performance over the past five days has been red. The drop to weekly highs of 21.40 on Monday, 09/18/23 subtracted -2.35% to the stock’s daily price. The company’s shares are showing year-to-date upside of 10.43%, with the 5-day performance at -6.00% in the red. However, in the 30-day time frame, Toast Inc. (NYSE:TOST) is -8.67% down. Looking at the short shares, we see there were 26.16 million shares sold at short interest cover period of 3.59 days.
The consensus price target for the stock as assigned by Wall Street analysts is $25.71, meaning bulls need an upside of 22.56% from its recent market value. According to analyst projections, TOST’s forecast low is $19.00 with $31.00 as the target high. To hit the forecast high, the stock’s price needs a -55.7% plunge from its current level, while the stock would need to tank 4.57% for it to hit the projected low.
Toast Inc. (TOST) estimates and forecasts
Data shows that the Toast Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 19.44% over the past 6 months, a 19.44% in annual growth rate that is considerably lower than the industry average of 22.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Toast Inc. will rise 47.40%, while the growth in revenue is estimated to hit 36.80% for the next quarter. Year-over-year growth is forecast to reach 41.30% up from the last financial year.
Consensus estimates given by 17 financial analysts project the company’s revenue in the current quarter to hit an average of $1.03 billion. 17 analysts are of the opinion that Toast Inc.’s revenue for the quarter ending Dec 2023 will be $1.03 billion. The company’s revenue for the corresponding quarters a year ago was $721.52 million and $769 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 42.70%. The estimates for the next quarter sales put growth at 33.90%.
The 2023 estimates are for Toast Inc. earnings to increase by 44.00%.
Toast Inc. is expected to release its next quarterly earnings report in October.
Toast Inc. (NYSE:TOST)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.65% of Toast Inc. shares while 86.05% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.24%. There are 86.05% institutions holding the Toast Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 7.69% of the shares, roughly 31.58 million TOST shares worth $712.86 million.
FMR, LLC holds the second largest percentage of outstanding shares, with 6.69% or 27.49 million shares worth $620.47 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Growth Fund Of America Inc and Vanguard Total Stock Market Index Fund. With 15.08 million shares estimated at $340.41 million under it, the former controlled 3.67% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.63% of the shares, roughly 10.82 million shares worth around $244.27 million.