Mizuho Downgrades Toast

By 247patrick Updated Oct 3, 9:34AM EDT · Published Oct 3, 6:55AM EDT

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Mizuho Downgrades Toast — © monkeybusinessimages / iStock via Getty Images

Fintel reports that on October 2, 2023, Mizuho downgraded their outlook for Toast Inc – (NYSE:TOST) from Buy to Neutral.

Analyst Price Forecast Suggests 42.12% Upside

As of August 31, 2023, the average one-year price target for Toast Inc – is 26.04. The forecasts range from a low of 19.19 to a high of $32.55. The average price target represents an increase of 42.12% from its latest reported closing price of 18.32.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Toast Inc – is 3,672MM, an increase of 10.67%. The projected annual non-GAAP EPS is -0.08.

What is the Fund Sentiment?

There are 726 funds or institutions reporting positions in Toast Inc -. This is an increase of 58 owner(s) or 8.68% in the last quarter. Average portfolio weight of all funds dedicated to TOST is 0.41%, an increase of 7.17%. Total shares owned by institutions increased in the last three months by 10.73% to 378,243K shares. The put/call ratio of TOST is 0.79, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital International Investors holds 23,305K shares representing 4.35% ownership of the company. In it’s prior filing, the firm reported owning 16,650K shares, representing an increase of 28.56%. The firm increased its portfolio allocation in TOST by 66.94% over the last quarter.

HMI Capital Management holds 15,740K shares representing 2.94% ownership of the company. No change in the last quarter.

Generation Investment Management Llp holds 13,028K shares representing 2.43% ownership of the company. In it’s prior filing, the firm reported owning 15,505K shares, representing a decrease of 19.02%. The firm decreased its portfolio allocation in TOST by 2.83% over the last quarter.

Durable Capital Partners holds 11,927K shares representing 2.23% ownership of the company. In it’s prior filing, the firm reported owning 11,842K shares, representing an increase of 0.72%. The firm increased its portfolio allocation in TOST by 19.69% over the last quarter.

Price T Rowe Associates holds 11,860K shares representing 2.21% ownership of the company. In it’s prior filing, the firm reported owning 14,876K shares, representing a decrease of 25.42%. The firm increased its portfolio allocation in TOST by 112.90% over the last quarter.

Toast Background Information
(This description is provided by the company.)

Toast is the end-to-end platform built for restaurants of all sizes. Toast provides a single platform of software as a service (SaaS) products and financial technology solutions that give restaurants everything they need to run their business across point of sale, operations, digital ordering and delivery, marketing and loyalty, and team management. By serving as the restaurant operating system across dine-in, takeout, and delivery channels, Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. Toast proudly serves approximately 48,000 restaurant locations.

This article originally appeared on Fintel