Toast (NYSE:TOST) Given New $19.00 Price Target at Wells Fargo & Company

Toast (NYSE:TOST) had its price objective hoisted by equities researchers at Wells Fargo & Company from $17.00 to $19.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 29.34% from the company’s current price.

A number of other analysts have also recently weighed in on TOST. The Goldman Sachs Group raised their price target on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, April 15th. UBS Group lifted their price objective on Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods upped their target price on shares of Toast from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday. Robert W. Baird increased their price objective on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price objective on shares of Toast in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.00.

Toast Stock Up 13.3 %

NYSE:TOST traded up $3.16 during mid-day trading on Wednesday, hitting $26.89. 13,988,480 shares of the company traded hands, compared to its average volume of 8,074,362. The stock’s fifty day moving average price is $23.63 and its 200-day moving average price is $19.52. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of -52.49 and a beta of 1.77. Toast has a one year low of $13.77 and a one year high of $27.31.

Toast (NYSE:TOST) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the company earned ($0.16) earnings per share. Equities analysts predict that Toast will post -0.22 EPS for the current year.

Insiders Place Their Bets

In related news, insider James Michael Matlock sold 1,205 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $28,197.00. Following the completion of the transaction, the insider now directly owns 40,954 shares in the company, valued at approximately $958,323.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Toast news, insider James Michael Matlock sold 1,205 shares of Toast stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $28,197.00. Following the completion of the sale, the insider now directly owns 40,954 shares of the company’s stock, valued at $958,323.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the sale, the executive now owns 25,422 shares in the company, valued at approximately $582,163.80. The disclosure for this sale can be found here. Insiders have sold 180,510 shares of company stock worth $4,381,885 over the last ninety days. Corporate insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Toast by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after acquiring an additional 1,598,248 shares during the period. Capital International Investors boosted its stake in shares of Toast by 9.1% in the fourth quarter. Capital International Investors now owns 29,349,685 shares of the company’s stock worth $535,925,000 after acquiring an additional 2,449,778 shares during the period. HMI Capital Management L.P. increased its holdings in Toast by 5.6% in the 4th quarter. HMI Capital Management L.P. now owns 15,189,265 shares of the company’s stock valued at $277,356,000 after acquiring an additional 808,244 shares during the last quarter. Morgan Stanley boosted its stake in Toast by 149.3% during the third quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after buying an additional 7,191,595 shares during the last quarter. Finally, Abdiel Capital Advisors LP increased its position in Toast by 0.3% in the fourth quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock worth $199,280,000 after purchasing an additional 37,091 shares during 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.