Toast (NYSE:TOST) Upgraded at Wolfe Research

Toast (NYSE:TOST - Get Free Report) was upgraded by equities researchers at Wolfe Research from a "peer perform" rating to an "outperform" rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $44.00 target price on the stock. Wolfe Research's price objective would suggest a potential upside of 23.36% from the stock's previous close.

Several other equities research analysts have also recently issued reports on TOST. BNP Paribas set a $37.00 target price on Toast and gave the stock a "neutral" rating in a report on Wednesday, February 19th. The Goldman Sachs Group reduced their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley lowered their target price on Toast from $50.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. Finally, BMO Capital Markets increased their price target on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $40.26.

Toast Stock Performance

Shares of NYSE TOST traded down $0.43 during trading hours on Wednesday, hitting $35.67. The company's stock had a trading volume of 2,802,732 shares, compared to its average volume of 6,810,619. Toast has a 12 month low of $21.32 and a 12 month high of $44.12. The stock has a market cap of $17.62 billion, a price-to-earnings ratio of -3,566.03, a P/E/G ratio of 2.16 and a beta of 2.00. The business has a 50-day simple moving average of $34.85 and a 200-day simple moving average of $36.41.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. On average, equities research analysts forecast that Toast will post 0.39 EPS for the current year.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 1,006 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $39,867.78. Following the transaction, the executive now directly owns 48,488 shares of the company's stock, valued at approximately $1,921,579.44. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 340,770 shares of company stock worth $11,803,911. Corporate insiders own 13.32% of the company's stock.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank bought a new position in Toast in the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new stake in Toast during the 4th quarter valued at $34,000. SBI Securities Co. Ltd. bought a new stake in Toast during the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Toast during the 4th quarter valued at $40,000. Institutional investors own 82.91% of the company's stock.

Toast Company Profile

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.