Toast (NYSE:TOST) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Toast (NYSE:TOST) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird boosted their target price on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Evercore ISI initiated coverage on shares of Toast in a research report on Wednesday, April 9th. They set an “in-line” rating and a $29.00 price objective for the company. DA Davidson cut their price objective on shares of Toast from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. UBS Group upped their price objective on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price objective on shares of Toast from $39.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.21.

Toast Stock Performance

Shares of Toast stock opened at $41.66 on Friday. The firm has a 50-day moving average of $37.41 and a 200-day moving average of $37.99. The stock has a market cap of $20.74 billion, a PE ratio of -4,161.44, a PEG ratio of 2.16 and a beta of 1.98. Toast has a 52-week low of $21.32 and a 52-week high of $45.56.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 70,340 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the sale, the president now owns 1,574,316 shares of the company’s stock, valued at approximately $53,322,082.92. This represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the sale, the general counsel now directly owns 216,156 shares of the company’s stock, valued at $9,208,245.60. This represents a 58.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 716,991 shares of company stock valued at $28,022,750. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Toast in the 4th quarter worth $34,000. SBI Securities Co. Ltd. bought a new position in shares of Toast in the 4th quarter worth $35,000. Wayfinding Financial LLC bought a new position in shares of Toast in the 1st quarter worth $34,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Toast in the 4th quarter worth $40,000. 82.91% of the stock is currently owned by institutional investors.

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.