Toast (NYSE:TOST) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Toast (NYSE:TOST - Get Free Report) had its target price increased by equities researchers at Wells Fargo & Company from $25.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Wells Fargo & Company's price target suggests a potential downside of 18.70% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Stephens increased their price target on Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Robert W. Baird boosted their price objective on shares of Toast from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of Toast from $28.00 to $36.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. BMO Capital Markets started coverage on shares of Toast in a research note on Monday, January 6th. They issued an "outperform" rating and a $45.00 target price for the company. Finally, Royal Bank of Canada lifted their target price on Toast from $27.00 to $40.00 and gave the stock a "sector perform" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Toast has a consensus rating of "Hold" and a consensus target price of $35.27.

Toast Stock Up 0.8 %

NYSE TOST traded up $0.31 on Thursday, reaching $36.90. The company had a trading volume of 3,640,581 shares, compared to its average volume of 4,888,588. Toast has a 12 month low of $16.13 and a 12 month high of $44.12. The stock has a market capitalization of $17.38 billion, a PE ratio of -283.84, a price-to-earnings-growth ratio of 1.83 and a beta of 1.97. The firm's 50 day moving average price is $38.90 and its 200 day moving average price is $30.86.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 31,248 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.37, for a total transaction of $949,001.76. Following the sale, the chief financial officer now owns 157,620 shares of the company's stock, valued at $4,786,919.40. This trade represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kent Bennett sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the completion of the transaction, the director now directly owns 418,591 shares of the company's stock, valued at approximately $15,349,731.97. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 943,848 shares of company stock valued at $33,409,434 in the last three months. 13.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toth Financial Advisory Corp acquired a new position in Toast during the 3rd quarter worth $28,000. Raleigh Capital Management Inc. lifted its position in shares of Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company's stock worth $42,000 after buying an additional 720 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock valued at $58,000 after purchasing an additional 496 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Toast in the third quarter worth $59,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Toast in the 3rd quarter worth about $65,000. Institutional investors and hedge funds 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.