Morgan Stanley Thinks Toast Inc’s Stock is Going to Recover

In a report released today, Josh Baer from Morgan Stanley maintained a Buy rating on Toast Inc (TOSTResearch Report), with a price target of $27.00. The company’s shares closed last Monday at $14.03, close to its 52-week low of $11.91.

According to, Baer is a 1-star analyst with an average return of -3.6% and a 37.1% success rate. Baer covers the Technology sector, focusing on stocks such as DigitalOcean Holdings, Cvent Holding, and Udemy Inc.

Toast Inc has an analyst consensus of Strong Buy, with a price target consensus of $22.29, a 56.1% upside from current levels. In a report issued on July 7, KeyBanc also maintained a Buy rating on the stock with a $18.00 price target.

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Based on Toast Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $535 million and GAAP net loss of $23 million. In comparison, last year the company earned revenue of $282 million and had a GAAP net loss of $99 million.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TOST in relation to earlier this year.

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Toast Inc is a cloud-based, end-to-end technology platform purpose-built for the entire restaurant community. Its platform provides a suite of SaaS products, financial technology solutions including integrated payment processing, restaurant-grade hardware, and a broad ecosystem of third-party partners. It serves as the restaurant operating system, connecting front of house and back of house operations across dine-in, takeout, and delivery channels.

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