Toast (NYSE:TOST) Stock Rating Upgraded by Wells Fargo & Company

Toast (NYSE:TOST) was upgraded by equities research analysts at Wells Fargo & Company from an “underweight” rating to an “overweight” rating in a research report issued on Thursday, Marketbeat.com reports. The brokerage currently has a $39.00 price objective on the stock, up from their previous price objective of $30.00. Wells Fargo & Company‘s price target indicates a potential upside of 13.50% from the company’s current price.

A number of other equities research analysts also recently issued reports on TOST. BMO Capital Markets increased their price target on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Morgan Stanley increased their target price on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 target price on shares of Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group reduced their target price on shares of Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.27.

Toast Stock Up 14.4 %

NYSE:TOST opened at $34.36 on Thursday. Toast has a 52-week low of $21.32 and a 52-week high of $44.12. The firm has a market cap of $16.97 billion, a P/E ratio of -3,432.77, a PEG ratio of 2.16 and a beta of 2.00. The business’s 50-day moving average price is $36.34 and its 200 day moving average price is $35.83.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Sell-side analysts expect that Toast will post 0.39 EPS for the current year.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 653 shares of the company’s 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 of the company’s stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the sale, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. This represents a 29.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock valued at $9,409,211 in the last ninety days. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Several hedge funds have recently added to or reduced their stakes in TOST. Geode Capital Management LLC raised its holdings in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after acquiring an additional 155,212 shares during the last quarter. MML Investors Services LLC grew its stake in Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after buying an additional 65,957 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after purchasing an additional 155,446 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in Toast by 134.3% in the fourth 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 during the period. Finally, New York Life Investment Management LLC bought a new stake in shares of Toast in the 4th quarter worth approximately $1,572,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.