Wells Fargo & Company Issues Positive Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price target increased by research analysts at Wells Fargo & Company from $25.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 17.74% from the stock’s current price.

Other analysts also recently issued reports about the company. Wedbush raised their target price on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. BMO Capital Markets initiated coverage on Toast in a report on Monday, January 6th. They issued an “outperform” rating and a $45.00 price objective on the stock. Piper Sandler boosted their price objective on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Morgan Stanley upped their price target on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price objective on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Toast currently has an average rating of “Hold” and an average price target of $35.27.

Toast Trading Down 0.3 %

Shares of Toast stock traded down $0.12 during trading hours on Thursday, reaching $36.47. The stock had a trading volume of 626,972 shares, compared to its average volume of 4,574,625. The firm has a market capitalization of $17.18 billion, a PE ratio of -280.54, a PEG ratio of 1.83 and a beta of 1.97. Toast has a twelve month low of $16.13 and a twelve month high of $44.12. The stock’s 50 day moving average is $38.82 and its 200 day moving average is $30.82.

Insider Buying and Selling at Toast

In other Toast news, CFO Elena Gomez sold 31,248 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.37, for a total value of $949,001.76. Following the completion of the transaction, the chief financial officer now owns 157,620 shares of the company’s stock, valued at $4,786,919.40. This represents a 16.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction dated 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 owns 177,836 shares in the company, valued at approximately $5,404,436.04. This trade represents a 62.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 943,848 shares of company stock valued at $33,409,434. 13.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Toast

Large investors have recently bought and sold shares of the business. Toth Financial Advisory Corp bought a new position in shares of Toast during the 3rd quarter worth approximately $28,000. Raleigh Capital Management Inc. raised its holdings in shares of Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 720 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Toast during the 3rd quarter worth approximately $59,000. Finally, Truvestments Capital LLC bought a new position in shares of Toast in the third quarter valued at approximately $65,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.