Toast (NYSE:TOST) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Toast (NYSE:TOST - Free Report) from an underweight rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat.com reports. Wells Fargo & Company currently has $39.00 price target on the stock, up from their prior price target of $30.00.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer began coverage on shares of Toast in a report on Friday, January 24th. They issued an "outperform" rating and a $46.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Robert W. Baird upped their price objective on Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. BMO Capital Markets lifted their price objective on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, BNP Paribas set a $37.00 price target on Toast and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Toast has an average rating of "Hold" and an average price target of $40.27.

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Toast Stock Performance

Toast stock traded up $0.44 during trading hours on Thursday, reaching $35.06. 1,848,606 shares of the company's stock traded hands, compared to its average volume of 6,724,864. Toast has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of -3,502.50, a PEG ratio of 2.16 and a beta of 2.00. The firm's 50 day moving average is $35.97 and its 200-day moving average is $36.02.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Analysts predict that Toast will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 270,770 shares of company stock valued at $9,409,211 in the last 90 days. 13.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TOST. Handelsbanken Fonder AB raised its position in shares of Toast by 13.5% during the 1st quarter. Handelsbanken Fonder AB now owns 113,400 shares of the company's stock valued at $3,761,000 after buying an additional 13,500 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Toast during the first quarter valued at about $877,000. GAMMA Investing LLC increased its holdings in shares of Toast by 38.7% in the first quarter. GAMMA Investing LLC now owns 3,861 shares of the company's stock worth $128,000 after buying an additional 1,077 shares during the period. Regatta Capital Group LLC boosted its stake in shares of Toast by 9.7% during the first quarter. Regatta Capital Group LLC now owns 12,392 shares of the company's stock valued at $411,000 after purchasing an additional 1,094 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Toast in the first quarter worth $816,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

About Toast

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.