Toast (NYSE:TOST) Upgraded to "Strong-Buy" at Wall Street Zen

Toast (NYSE:TOST - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Several other brokerages have also recently issued reports on TOST. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. Piper Sandler upped their price target on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 target price for the company. The Goldman Sachs Group cut their target price on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets increased their price objective on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.91.

Toast Stock Down 0.9%

Shares of NYSE TOST traded down $0.39 during trading on Friday, reaching $42.35. The company had a trading volume of 2,788,552 shares, compared to its average volume of 6,842,510. Toast has a 12-month low of $21.32 and a 12-month high of $45.56. The stock has a market cap of $21.09 billion, a PE ratio of -4,224.78, a P/E/G ratio of 2.16 and a beta of 1.98. The business's 50-day moving average is $36.77 and its 200 day moving average is $37.90.

Insider Activity

In other Toast news, President Stephen Fredette sold 70,340 shares of the stock in a transaction dated 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 transaction, the president now owns 1,574,316 shares of the company's stock, valued at $53,322,082.92. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul D. Bell sold 11,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the transaction, the director now owns 229,680 shares of the company's stock, valued at approximately $10,365,458.40. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 416,991 shares of company stock worth $15,242,750. Corporate insiders own 13.32% of the company's stock.

Institutional Investors Weigh In On Toast

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after acquiring an additional 155,446 shares during the period. Jupiter Asset Management Ltd. increased its stake in Toast by 134.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock worth $14,319,000 after purchasing an additional 225,215 shares in the last quarter. New York Life Investment Management LLC acquired a new position in shares of Toast during the fourth quarter worth about $1,572,000. Forsta AP Fonden raised its holdings in Toast by 191.4% during the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock worth $8,540,000 after acquiring an additional 153,900 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Toast during the fourth quarter worth approximately $83,684,000. Institutional investors and hedge funds 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.