Wells Fargo & Company Increases Toast (NYSE:TOST) Price Target to $17.00

Toast (NYSE:TOST) had its price target boosted by Wells Fargo & Company from $15.00 to $17.00 in a research note published on Friday, Benzinga reports. They currently have an underweight rating on the stock.

Several other research firms have also commented on TOST. Redburn Atlantic upgraded shares of Toast from a neutral rating to a buy rating and set a $28.00 price target for the company in a report on Wednesday, February 7th. Keefe, Bruyette & Woods began coverage on shares of Toast in a research note on Tuesday, April 9th. They set a market perform rating and a $25.00 price objective for the company. The Goldman Sachs Group upgraded shares of Toast from a neutral rating to a buy rating and boosted their price objective for the stock from $16.00 to $24.00 in a research note on Wednesday, January 10th. UBS Group boosted their price objective on shares of Toast from $22.00 to $31.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada restated a sector perform rating and set a $23.00 price target on shares of Toast in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $24.32.

Toast Stock Performance

NYSE:TOST opened at $22.51 on Friday. Toast has a one year low of $13.77 and a one year high of $27.00. The firm has a market cap of $9.83 billion, a P/E ratio of -44.13 and a beta of 1.79. The firm has a 50-day simple moving average of $22.81 and a 200-day simple moving average of $18.93.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted ($0.19) EPS. The company’s quarterly revenue was up 34.7% compared to the same quarter last year. On average, research analysts predict that Toast will post -0.22 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 224,900 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $18.37, for a total value of $4,131,413.00. Following the sale, the general counsel now directly owns 160,340 shares of the company’s stock, valued at approximately $2,945,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Brian R. Elworthy sold 224,900 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the sale, the general counsel now directly owns 160,340 shares of the company’s stock, valued at $2,945,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Michael Matlock sold 5,804 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $18.72, for a total transaction of $108,650.88. Following the sale, the insider now directly owns 43,884 shares in the company, valued at $821,508.48. The disclosure for this sale can be found here. Insiders have sold 363,688 shares of company stock valued at $7,499,141 in the last ninety days. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Toast

Large investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC acquired a new position in Toast during the first quarter worth $37,000. Baystate Wealth Management LLC acquired a new stake in shares of Toast in the third quarter valued at about $29,000. Principal Securities Inc. acquired a new stake in shares of Toast in the fourth quarter valued at about $30,000. BluePath Capital Management LLC acquired a new stake in shares of Toast in the third quarter valued at about $30,000. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of Toast in the fourth quarter valued at about $31,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.