Toast (NYSE:TOST) Stock Price Expected to Rise, Wedbush Analyst Says

Toast (NYSE:TOST) had its price target boosted by analysts at Wedbush from $35.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 25.84% from the stock’s current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. DA Davidson increased their price objective on shares of Toast from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. Morgan Stanley increased their price target on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus price target of $30.45.

Toast Stock Performance

TOST traded up $3.09 on Friday, hitting $35.76. 11,168,127 shares of the company were exchanged, compared to its average volume of 7,135,622. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $38.40. The firm has a market capitalization of $16.49 billion, a P/E ratio of -122.93 and a beta of 1.74. The business’s fifty day moving average is $27.94 and its 200 day moving average is $25.86.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm posted ($0.19) EPS. The company’s revenue was up 27.0% compared to the same quarter last year. Analysts forecast that Toast will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elena Gomez sold 1,917 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $59,580.36. Following the completion of the transaction, the chief financial officer now owns 159,615 shares of the company’s stock, valued at approximately $4,960,834.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the transaction, the chief executive officer now owns 968,095 shares in the company, valued at approximately $26,883,998.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 1,917 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $59,580.36. Following the sale, the chief financial officer now owns 159,615 shares of the company’s stock, valued at $4,960,834.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,375,651 shares of company stock valued at $38,150,212. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently modified their holdings of the company. West Branch Capital LLC purchased a new position in Toast in the second quarter valued at approximately $26,000. LRI Investments LLC purchased a new position in shares of Toast in the 1st quarter valued at $27,000. Toth Financial Advisory Corp purchased a new position in shares of Toast in the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Toast during the 2nd quarter valued at $33,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in Toast during the 2nd quarter worth $34,000. 82.91% of the stock is owned by institutional investors and hedge funds.

About Toast

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.