Toast (NYSE:TOST) Price Target Raised to $46.00

Toast (NYSE:TOST) had its price target upped by Wells Fargo & Company from $39.00 to $46.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on TOST. Evercore ISI began coverage on shares of Toast in a research note on Wednesday, April 9th. They set an “in-line” rating and a $29.00 price objective for the company. Wolfe Research raised Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Wednesday, April 23rd. DA Davidson cut their price objective on Toast from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group reduced their price objective on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets upped their target price on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.91.

Toast Stock Performance

Shares of TOST stock opened at $40.85 on Friday. Toast has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of -4,080.92, a PEG ratio of 2.16 and a beta of 1.98. The stock’s 50-day simple moving average is $34.56 and its 200-day simple moving average is $36.91.

Toast (NYSE:TOST) last released its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, equities analysts forecast that Toast will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Christopher P. Comparato sold 70,000 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the sale, the director now owns 164,796 shares of the company’s stock, valued at approximately $5,884,865.16. The trade was a 29.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 44,056 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.15, for a total transaction of $1,548,568.40. Following the transaction, the president now owns 1,447,717 shares of the company’s stock, valued at $50,887,252.55. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,991 shares of company stock valued at $11,614,520. Corporate insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TOST. Charles Schwab Investment Management Inc. increased its stake in Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after buying an additional 155,446 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Toast by 134.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock worth $14,319,000 after purchasing an additional 225,215 shares in the last quarter. New York Life Investment Management LLC acquired a new position in Toast in the 4th quarter valued at $1,572,000. Forsta AP Fonden raised its stake in Toast by 191.4% in the 4th quarter. Forsta AP Fonden now owns 234,300 shares of the company’s stock valued at $8,540,000 after purchasing an additional 153,900 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Toast in the 4th quarter valued at $83,684,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Company Profile

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.