Wedbush Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

by · The Markets Daily

Toast (NYSE:TOST – Free Report) had its price objective raised by Wedbush from $35.00 to $45.00 in a report issued on Friday morning, Marketbeat Ratings reports. Wedbush currently has an outperform rating on the stock.

Several other analysts have also recently issued reports on the stock. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and upped their price target for the company from $21.00 to $33.00 in a report on Thursday, July 18th. The Goldman Sachs Group increased their target price on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley upped their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Stephens upped their target price on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.80.

Get Our Latest Analysis on TOST

Toast Trading Up 14.7 %

Shares of Toast stock traded up $4.81 during mid-day trading on Friday, hitting $37.48. 28,795,314 shares of the stock were exchanged, compared to its average volume of 7,216,790. The company has a 50-day simple moving average of $28.19 and a 200 day simple moving average of $25.97. Toast has a twelve month low of $13.77 and a twelve month high of $38.40. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of -128.96 and a beta of 1.74.

Toast (NYSE:TOST – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company posted ($0.19) earnings per share. Toast’s revenue was up 27.0% compared to the same quarter last year. Equities research analysts forecast that Toast will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 1,917 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $59,580.36. Following the completion of the transaction, the chief financial officer now directly owns 159,615 shares in the company, valued at approximately $4,960,834.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Elena Gomez sold 1,917 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $59,580.36. Following the completion of the transaction, the chief financial officer now owns 159,615 shares of the company’s stock, valued at $4,960,834.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the sale, the executive now owns 39,834 shares in the company, valued at approximately $1,238,040.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,375,651 shares of company stock valued at $38,150,212 over the last ninety days. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. West Branch Capital LLC purchased a new position in shares of Toast during the second quarter valued at approximately $26,000. LRI Investments LLC bought a new position in Toast in the first quarter worth approximately $27,000. Toth Financial Advisory Corp bought a new position in Toast in the third quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Toast during the second quarter worth $33,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Toast during the second quarter worth $34,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Company Profile

(Get Free Report)

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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