Toast (NYSE:TOST) Price Target Raised to $45.00 at Wedbush

Toast (NYSE:TOST - Free Report) had its target price upped by Wedbush from $35.00 to $45.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently issued reports on TOST. Needham & Company LLC restated a "buy" rating and issued a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. Bank of America boosted their price target on Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. Robert W. Baird raised their price objective on shares of Toast from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday. Mizuho upgraded shares of Toast from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. Finally, DA Davidson increased their price target on shares of Toast from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $31.80.

Toast Stock Up 14.5 %

TOST traded up $4.73 during midday trading on Friday, hitting $37.40. 28,785,664 shares of the company traded hands, compared to its average volume of 7,216,790. The company's 50-day moving average is $27.94 and its 200 day moving average is $25.86. The firm has a market capitalization of $17.24 billion, a PE ratio of -128.72 and a beta of 1.74. Toast has a 52 week low of $13.77 and a 52 week high of $38.40.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. The firm's revenue for the quarter was up 27.0% compared to the same quarter last year. On average, sell-side analysts predict that Toast will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 10,106 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now owns 968,095 shares in the company, valued at $26,883,998.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Toast news, President Stephen Fredette sold 211,686 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares of the company's stock, valued at $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Aman Narang sold 10,106 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the sale, the chief executive officer now directly owns 968,095 shares of the company's stock, valued at $26,883,998.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,375,651 shares of company stock worth $38,150,212 in the last 90 days. 13.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Toast

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whale Rock Capital Management LLC bought a new position in Toast during the first quarter valued at $179,111,000. Assenagon Asset Management S.A. raised its position in Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company's stock worth $108,427,000 after purchasing an additional 3,701,893 shares during the period. Capital International Investors lifted its stake in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company's stock worth $820,468,000 after purchasing an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company's stock valued at $486,557,000 after buying an additional 3,445,788 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company's stock valued at $64,871,000 after buying an additional 1,604,716 shares during 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.