Toast (NYSE:TOST) Receives New Coverage from Analysts at Wolfe Research

Wolfe Research started coverage on shares of Toast (NYSE:TOST – Get Rating) in a report issued on Tuesday, MarketBeat.com reports. The brokerage issued a peer perform rating and a $18.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Needham & Company LLC upped their price target on Toast from $27.00 to $32.00 and gave the stock a buy rating in a research note on Friday, November 11th. UBS Group began coverage on shares of Toast in a research report on Wednesday, September 14th. They set a neutral rating and a $22.00 price target on the stock. William Blair reissued an outperform rating on shares of Toast in a research report on Thursday, November 10th. Credit Suisse Group lifted their target price on shares of Toast to $21.50 in a report on Wednesday, November 16th. Finally, Morgan Stanley increased their price target on Toast from $29.00 to $30.00 and gave the company an overweight rating in a report on Friday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $24.17.

Toast Stock Down 1.9 %

TOST stock opened at $17.99 on Tuesday. The company has a market cap of $9.21 billion, a price-to-earnings ratio of -24.64 and a beta of 1.72. The business has a fifty day simple moving average of $18.94 and a 200-day simple moving average of $17.29. Toast has a 52 week low of $11.91 and a 52 week high of $41.40.

Insider Activity

In other Toast news, insider James Michael Matlock sold 25,991 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $21.18, for a total transaction of $550,489.38. Following the completion of the transaction, the insider now directly owns 38,704 shares of the company’s stock, valued at approximately $819,750.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Mark J. Hawkins sold 52,790 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $20.82, for a total value of $1,099,087.80. Following the completion of the sale, the director now directly owns 64,007 shares in the company, valued at approximately $1,332,625.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Michael Matlock sold 25,991 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $21.18, for a total value of $550,489.38. Following the sale, the insider now directly owns 38,704 shares in the company, valued at $819,750.72. The disclosure for this sale can be found here. In the last three months, insiders sold 5,970,594 shares of company stock worth $108,427,080. 20.16% of the stock is currently owned by insiders.

Institutional Trading of Toast

Institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new position in Toast during the 3rd quarter valued at approximately $45,000. American International Group Inc. bought a new stake in Toast in the second quarter valued at $46,000. Captrust Financial Advisors lifted its stake in Toast by 44.8% in the first quarter. Captrust Financial Advisors now owns 4,866 shares of the company’s stock valued at $106,000 after buying an additional 1,505 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Toast during the second quarter valued at $72,000. Finally, IFP Advisors Inc grew its position in shares of Toast by 48.4% during the third quarter. IFP Advisors Inc now owns 6,142 shares of the company’s stock worth $385,000 after acquiring an additional 2,003 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

About Toast

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.