Toast (NYSE:TOST) Price Target Increased to $19.00 by Analysts at Wells Fargo & Company

Toast (NYSE:TOST) had its price objective upped by stock analysts at Wells Fargo & Company from $17.00 to $19.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 29.16% from the company’s previous close.

Other equities research analysts have also issued reports about the company. BNP Paribas upgraded Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Thursday, March 7th. The Goldman Sachs Group boosted their price target on Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Robert W. Baird increased their price objective on Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $23.00 target price on shares of Toast in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Toast from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Toast presently has an average rating of “Hold” and a consensus price target of $25.80.

Toast Price Performance

Shares of NYSE:TOST opened at $26.82 on Wednesday. The business’s 50 day moving average price is $23.79 and its 200-day moving average price is $19.62. Toast has a 1 year low of $13.77 and a 1 year high of $27.57. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of -52.59 and a beta of 1.77.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.15). Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. On average, sell-side analysts expect that Toast will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the sale, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The disclosure for this sale can be found here. Insiders have sold a total of 193,010 shares of company stock valued at $4,711,760 in the last ninety days. Company insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Toast by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after buying an additional 1,598,248 shares during the last quarter. Capital International Investors increased its holdings in shares of Toast by 9.1% in the 4th quarter. Capital International Investors now owns 29,349,685 shares of the company’s stock valued at $535,925,000 after acquiring an additional 2,449,778 shares during the last quarter. HMI Capital Management L.P. increased its holdings in shares of Toast by 5.6% in the 4th quarter. HMI Capital Management L.P. now owns 15,189,265 shares of the company’s stock valued at $277,356,000 after acquiring an additional 808,244 shares during the last quarter. Morgan Stanley raised its position in shares of Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after acquiring an additional 7,191,595 shares in the last quarter. Finally, Abdiel Capital Advisors LP lifted its stake in Toast by 0.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock worth $199,280,000 after purchasing an additional 37,091 shares during the last quarter. 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.