Toast (NYSE:TOST) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Toast (NYSE:TOST - Get Free Report) had its target price hoisted by Jefferies Financial Group from $50.00 to $54.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 16.87% from the company's previous close.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a research note on Thursday. They issued a "buy" rating and a $54.00 target price for the company. DA Davidson dropped their target price on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Evercore ISI assumed coverage on shares of Toast in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price on the stock. 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, Wells Fargo & Company initiated coverage on Toast in a research report on Wednesday. They set a "buy" rating for the company. Twelve analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Toast has an average rating of "Moderate Buy" and an average target price of $42.76.

Toast Stock Performance

TOST stock traded down $0.41 on Friday, reaching $46.21. The company had a trading volume of 2,103,015 shares, compared to its average volume of 6,808,068. Toast has a 1 year low of $22.10 and a 1 year high of $47.46. The company's fifty day moving average is $43.31 and its 200 day moving average is $38.82. The company has a market cap of $23.01 billion, a P/E ratio of 200.86 and a beta of 2.00.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 13,829 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the transaction, the chief executive officer directly owned 302,498 shares in the company, valued at $12,883,389.82. This represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 5,681 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $241,953.79. Following the completion of the transaction, the general counsel owned 221,767 shares of the company's stock, valued at approximately $9,445,056.53. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 466,131 shares of company stock worth $20,048,851 over the last ninety days. Company insiders own 13.32% of the company's stock.

Institutional Trading of Toast

Several hedge funds have recently made changes to their positions in the stock. Wayfinding Financial LLC bought a new stake in shares of Toast during the first quarter valued at approximately $34,000. Piscataqua Savings Bank grew its position in Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares during the last quarter. West Branch Capital LLC raised its position in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares during the period. SBI Securities Co. Ltd. lifted its stake in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after buying an additional 284 shares in the last quarter. Finally, Signaturefd LLC grew its position in Toast by 227.1% during the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after purchasing an additional 1,022 shares in the last quarter. 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.

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