Toast (NYSE:TOST) Raised to Outperform at Wolfe Research

Toast (NYSE:TOST) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat reports. The firm presently has a $44.00 price target on the stock. Wolfe Research’s target price would suggest a potential upside of 22.49% from the stock’s current price.

Several other brokerages have also issued reports on TOST. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. Royal Bank of Canada boosted their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods raised their target price on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Thursday, February 20th. Robert W. Baird boosted their price target on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group raised their price objective on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.26.

Toast Stock Up 3.0 %

TOST opened at $35.92 on Wednesday. Toast has a twelve month low of $21.32 and a twelve month high of $44.12. The firm has a 50 day moving average price of $35.06 and a 200-day moving average price of $36.21. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of -3,588.41, a PEG ratio of 2.16 and a beta of 2.00.

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

Insider Activity

In other news, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $34.21, for a total value of $2,394,700.00. Following the completion of the transaction, the director now owns 179,316 shares of the company’s stock, valued at approximately $6,134,400.36. This represents a 28.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 340,770 shares of company stock worth $11,803,911. 13.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Toast

Several large investors have recently modified their holdings of TOST. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Toast by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock worth $1,408,000 after buying an additional 301 shares during the period. Keel Point LLC lifted its holdings in shares of Toast by 2.7% in the 4th quarter. Keel Point LLC now owns 12,269 shares of the company’s stock worth $447,000 after acquiring an additional 326 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Toast by 11.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock worth $125,000 after purchasing an additional 358 shares during the period. Mirador Capital Partners LP grew its holdings in Toast by 0.9% during the 4th quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock valued at $1,529,000 after purchasing an additional 360 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares during the last quarter. 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.