Toast (NYSE:TOST) PT Raised to $17.00

Toast (NYSE:TOST - Free Report) had its price target hoisted by Wells Fargo & Company from $15.00 to $17.00 in a research report report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada reaffirmed a sector perform rating and issued a $23.00 price target on shares of Toast in a research report on Thursday. Mizuho reaffirmed a neutral rating and issued a $17.00 price target on shares of Toast in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods started coverage on Toast in a research report on Tuesday. They issued a market perform rating and a $25.00 price target on the stock. Evercore ISI started coverage on Toast in a research report on Monday, March 4th. They set an outperform rating and a $32.00 target price on the stock. Finally, The Goldman Sachs Group raised Toast from a neutral rating to a buy rating and lifted their target price for the stock from $16.00 to $24.00 in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $23.53.

Toast Trading Down 3.0 %

NYSE TOST traded down $0.73 during trading on Friday, hitting $23.83. 4,908,924 shares of the company traded hands, compared to its average volume of 8,467,576. Toast has a 12 month low of $13.77 and a 12 month high of $27.00. The business has a fifty day simple moving average of $22.73 and a 200 day simple moving average of $18.90. The company has a market capitalization of $10.41 billion, a P/E ratio of -46.72 and a beta of 1.79.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $1.04 billion for 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 firm's revenue was up 34.7% compared to the same quarter last year. During the same period last year, the business posted ($0.19) earnings per share. Equities research analysts predict that Toast will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 224,900 shares of Toast stock in a transaction that occurred on 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 completion of the transaction, the general counsel now owns 160,340 shares in the company, valued at $2,945,445.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Brian R. Elworthy sold 224,900 shares of Toast stock in a transaction that occurred on 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 completion of the transaction, the general counsel now owns 160,340 shares in the company, valued at $2,945,445.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 sold a total of 364,747 shares of company stock worth $7,517,515 over the last quarter. Company insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Toast by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company's stock worth $669,729,000 after purchasing an additional 1,598,248 shares during the last quarter. Capital International Investors grew 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 buying an additional 2,449,778 shares during the period. BlackRock Inc. boosted its stake in Toast by 26.7% in the 2nd quarter. BlackRock Inc. now owns 18,546,558 shares of the company's stock worth $418,596,000 after purchasing an additional 3,907,219 shares during the period. Altimeter Capital Management LP boosted its stake in Toast by 3,508.4% in the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company's stock worth $3,933,007,000 after purchasing an additional 17,541,796 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Toast by 34.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,078,912 shares of the company's stock worth $293,602,000 after purchasing an additional 4,130,812 shares during the period. Institutional investors own 82.91% of the company's stock.

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.