Wells Fargo & Company Increases Toast (NYSE:TOST) Price Target to $25.00

Toast (NYSE:TOST) had its target price increased by investment analysts at Wells Fargo & Company from $23.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 31.95% from the stock’s current price.

TOST has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. Robert W. Baird upped their price objective on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley upped their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their price objective on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.15.

Toast Stock Up 12.5 %

TOST traded up $4.07 during trading on Friday, hitting $36.74. 15,083,859 shares of the company traded hands, compared to its average volume of 7,153,667. The firm has a market cap of $16.94 billion, a P/E ratio of -126.69 and a beta of 1.74. The stock’s fifty day moving average is $27.94 and its 200 day moving average is $25.86. Toast has a one year low of $13.77 and a one year high of $38.40.

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

Insider Transactions at Toast

In related 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 value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Aman Narang sold 10,106 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 968,095 shares of the company’s stock, valued at $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 SEC, which is available through this link. Also, 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 value of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,375,651 shares of company stock worth $38,150,212. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOST. Whale Rock Capital Management LLC purchased a new position in Toast during the first quarter valued at $179,111,000. Assenagon Asset Management S.A. lifted its position in Toast by 2,889.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after buying an additional 3,701,893 shares during the period. Capital International Investors lifted its position in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after buying an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after buying an additional 3,445,788 shares during the period. Finally, Marshall Wace LLP lifted its position in Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after buying an additional 1,604,716 shares during the period. Hedge funds and other institutional investors 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.