Toast (NYSE:TOST) Given New $19.00 Price Target at Wells Fargo & Company

Toast (NYSE:TOST) had its price objective hoisted by Wells Fargo & Company from $17.00 to $19.00 in a report released on Wednesday, Benzinga reports. The firm currently has an underweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on Toast from $26.00 to $29.00 and gave the company a buy rating in a report on Monday, April 15th. Keefe, Bruyette & Woods lifted their target price on Toast from $25.00 to $26.00 and gave the stock a market perform rating in a report on Wednesday. Redburn Atlantic upgraded Toast from a neutral rating to a buy rating and set a $28.00 price objective for the company in a report on Wednesday, February 7th. Needham & Company LLC boosted their price objective on Toast from $26.00 to $30.00 and gave the company a buy rating in a report on Wednesday. Finally, Royal Bank of Canada restated a sector perform rating and set a $23.00 price objective on shares of Toast in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Toast has a consensus rating of Hold and an average target price of $25.80.

Toast Stock Performance

Shares of NYSE TOST remained flat at $26.82 during trading on Wednesday. The stock had a trading volume of 15,196,707 shares, compared to its average volume of 8,284,737. Toast has a 52-week low of $13.77 and a 52-week high of $27.57. The stock has a market cap of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77. The business’s 50-day moving average is $23.71 and its 200-day moving average is $19.57.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm posted ($0.16) earnings per share. Toast’s revenue was up 31.3% compared to the same quarter last year. Research analysts forecast that Toast will post -0.22 EPS for the current year.

Insider Buying and Selling

In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the sale, the executive now owns 25,422 shares in the company, valued at approximately $582,163.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Toast news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the sale, the executive now owns 25,422 shares in the company, valued at approximately $582,163.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the sale, the chief executive officer now owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Insiders have sold a total of 180,510 shares of company stock worth $4,381,885 in the last ninety days. 13.32% of the stock is owned by insiders.

Institutional Trading of Toast

Hedge funds have recently modified their holdings of the stock. Principal Securities Inc. purchased a new position in Toast during the fourth quarter worth approximately $30,000. Cape Investment Advisory Inc. purchased a new position in Toast during the fourth quarter worth approximately $31,000. SRS Capital Advisors Inc. purchased a new position in shares of Toast in the third quarter valued at approximately $33,000. Larson Financial Group LLC lifted its position in shares of Toast by 8,181.8% in the third quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of Toast by 481.6% in the third quarter. Spire Wealth Management now owns 1,838 shares of the company’s stock valued at $34,000 after acquiring an additional 1,522 shares in the last quarter. Hedge funds and other 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.