Toast (NYSE:TOST) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Toast (NYSE:TOSTFree Report) in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

TOST has been the topic of several other reports. Robert W. Baird downgraded Toast from an outperform rating to a neutral rating and set a $28.00 price target on the stock. in a research report on Tuesday, May 21st. Royal Bank of Canada increased their price target on Toast from $23.00 to $27.00 and gave the stock a sector perform rating in a research report on Wednesday, May 8th. Redburn Atlantic raised Toast from a neutral rating to a buy rating and set a $28.00 price target on the stock in a research report on Wednesday, February 7th. Wells Fargo & Company increased their target price on shares of Toast from $17.00 to $19.00 and gave the stock an underweight rating in a research note on Wednesday, May 8th. Finally, Evercore ISI began coverage on shares of Toast in a research note on Monday, March 4th. They set an outperform rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $26.14.

Get Our Latest Research Report on Toast

Toast Price Performance

NYSE TOST opened at $23.61 on Thursday. The stock’s fifty day moving average price is $24.39 and its 200 day moving average price is $20.64. Toast has a 1 year low of $13.77 and a 1 year high of $27.90.

Toast (NYSE:TOSTGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned ($0.16) EPS. The firm’s revenue was up 31.3% on a year-over-year basis. Sell-side analysts forecast that Toast will post -0.14 EPS for the current fiscal year.

Insider Activity at Toast

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 transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Toast news, President Stephen Fredette sold 2,272 shares of the firm’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 value of $53,164.80. Following the transaction, the president now directly owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the firm’s 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 directly owns 22,956 shares in the company, valued at $579,409.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,010 shares of company stock valued at $6,001,260. 13.32% of the stock is owned by corporate insiders.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of Toast during the 1st quarter worth approximately $27,000. Washington Harbour Partners LP increased its holdings in Toast by 164.4% in the 1st quarter. Washington Harbour Partners LP now owns 152,300 shares of the company’s stock valued at $3,795,000 after purchasing an additional 94,700 shares during the last quarter. XN LP increased its holdings in Toast by 40.9% in the 1st quarter. XN LP now owns 5,055,225 shares of the company’s stock valued at $125,976,000 after purchasing an additional 1,467,339 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in Toast in the 1st quarter valued at approximately $4,350,000. Finally, LBP AM SA acquired a new stake in Toast in the 1st quarter valued at approximately $466,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

About Toast

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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.

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