Toast (NYSE:TOST) Price Target Raised to $45.00

Toast (NYSE:TOST) had its price objective increased by equities research analysts at Wedbush from $35.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target indicates a potential upside of 25.84% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. DA Davidson boosted their price target on Toast from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and increased their target price for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. Stephens lifted their price target on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price target on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Toast presently has an average rating of “Hold” and an average price target of $30.45.

Toast Stock Up 9.5 %

Shares of TOST traded up $3.09 during mid-day trading on Friday, reaching $35.76. 11,168,127 shares of the stock traded hands, compared to its average volume of 7,135,622. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of -122.93 and a beta of 1.74. The stock has a fifty day simple moving average of $27.94 and a 200 day simple moving average of $25.86. Toast has a 12-month low of $13.77 and a 12-month high of $38.40.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion for 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 was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. On average, equities research analysts expect that Toast will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the sale, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares in the company, 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. Insiders have sold a total of 1,375,651 shares of company stock valued at $38,150,212 in the last quarter. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Large investors have recently bought and sold shares of the stock. Capital International Investors lifted its stake in shares of Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after acquiring an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the period. Champlain Investment Partners LLC boosted its stake in Toast by 9.1% during the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after purchasing an additional 833,390 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Toast during the 1st quarter valued at $179,111,000. Finally, Meritage Group LP raised its stake in shares of Toast by 37.3% in the 1st quarter. Meritage Group LP now owns 5,284,811 shares of the company’s stock worth $131,697,000 after buying an additional 1,436,494 shares in the last quarter. Institutional investors and hedge funds 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.