Toast (NYSE:TOST) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Toast (NYSE:TOST) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $28.00 to $36.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 3.95% from the company’s current price.

Several other analysts have also issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Wedbush increased their target price on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Bank of America increased their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.80.

Toast Trading Up 14.7 %

Shares of NYSE:TOST opened at $37.48 on Friday. The business’s 50 day moving average price is $28.19 and its 200-day moving average price is $25.99. Toast has a 1 year low of $13.77 and a 1 year high of $38.40.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the firm’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 $42,486.36. Following the sale, the executive now directly owns 39,834 shares of the company’s stock, valued at $1,238,040.72. The trade was 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 worth $38,150,212. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Toast by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after purchasing an additional 421 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Toast by 1.6% during the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after buying an additional 441 shares during the period. CIBC Asset Management Inc grew its stake in shares of Toast by 3.7% in the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after buying an additional 448 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Toast by 8.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock worth $174,000 after acquiring an additional 520 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.