Toast (NYSE:TOST) PT Raised to $17.00

Toast (NYSE:TOST) had its target price upped by Wells Fargo & Company from $15.00 to $17.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 28.63% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Evercore ISI started coverage on Toast in a report on Monday, March 4th. They set an “outperform” rating and a $32.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 target price on shares of Toast in a research note on Thursday. Mizuho reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Toast in a research report on Wednesday, March 27th. UBS Group lifted their price objective on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Redburn Atlantic raised Toast from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.53.

Toast Stock Down 3.0 %

Shares of TOST opened at $23.82 on Friday. Toast has a 52-week low of $13.77 and a 52-week high of $27.00. The company has a market capitalization of $10.41 billion, a PE ratio of -46.71 and a beta of 1.79. The stock has a fifty day simple moving average of $22.73 and a two-hundred day simple moving average of $18.90.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period last year, the company earned ($0.19) EPS. As a group, equities analysts anticipate that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 224,900 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $18.37, for a total transaction of $4,131,413.00. Following the sale, the general counsel now owns 160,340 shares of the company’s stock, valued at $2,945,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Brian R. Elworthy sold 224,900 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $18.37, for a total value of $4,131,413.00. Following the sale, the general counsel now owns 160,340 shares in the company, valued at approximately $2,945,445.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aman Narang sold 2,471 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the sale, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 364,747 shares of company stock worth $7,517,515. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Investment Advisory LLC purchased a new stake in shares of Toast during the 1st quarter valued at $37,000. Baystate Wealth Management LLC bought a new stake in Toast in the 3rd quarter worth $29,000. Principal Securities Inc. bought a new stake in Toast in the 4th quarter worth $30,000. BluePath Capital Management LLC bought a new stake in shares of Toast during the 3rd quarter valued at about $30,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Toast during the 4th quarter valued at about $31,000. 82.91% of the stock is owned by 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.