Wolfe Research Upgrades Toast (NYSE:TOST) to Outperform

Toast (NYSE:TOST - Get Free Report) was upgraded by equities research analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $44.00 price target on the stock. Wolfe Research's target price suggests a potential upside of 28.81% from the stock's previous close.

Several other analysts have also commented on TOST. BNP Paribas set a $37.00 price target on shares of Toast and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Canaccord Genuity Group upped their target price on Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods raised their price target on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. Wells Fargo & Company upgraded Toast from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $30.00 to $39.00 in a research report on Thursday, April 10th. Finally, Oppenheimer initiated coverage on Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Toast has an average rating of "Hold" and an average price target of $40.26.

Toast Stock Performance

Shares of TOST stock opened at $34.16 on Wednesday. The stock has a fifty day moving average price of $35.30 and a 200 day moving average price of $36.23. The stock has a market cap of $16.88 billion, a PE ratio of -3,412.59, a P/E/G ratio of 2.16 and a beta of 2.00. Toast has a 1 year low of $21.32 and a 1 year high of $44.12.

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

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now 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 document filed with the SEC, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction dated 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 owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was 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 340,770 shares of company stock valued at $11,803,911 over the last ninety days. Corporate insiders own 13.32% of the company's stock.

Hedge Funds Weigh In On Toast

A number of institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 155,446 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of Toast by 134.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after buying an additional 225,215 shares during the last quarter. New York Life Investment Management LLC acquired a new stake in shares of Toast during the fourth quarter worth approximately $1,572,000. Forsta AP Fonden increased its stake in shares of Toast by 191.4% in the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock worth $8,540,000 after buying an additional 153,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Toast by 129,058.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company's stock valued at $75,466,000 after acquiring an additional 2,072,680 shares during the last quarter. 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.

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