Wedbush Reiterates “Outperform” Rating for Toast (NYSE:TOST)

Wedbush restated their outperform rating on shares of Toast (NYSE:TOST) in a research report released on Thursday, Marketbeat.com reports. Wedbush currently has a $30.00 price target on the stock.

Several other analysts have also recently issued reports on TOST. Wells Fargo & Company increased their target price on Toast from $17.00 to $19.00 and gave the company an underweight rating in a research report on Wednesday, May 8th. The Goldman Sachs Group increased their target price on Toast from $26.00 to $29.00 and gave the company a buy rating in a research report on Monday, April 15th. Robert W. Baird cut Toast from an outperform rating to a neutral rating and set a $28.00 target price on the stock. in a research report on Tuesday, May 21st. Evercore ISI started coverage on Toast in a research report on Monday, March 4th. They set an outperform rating and a $32.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on Toast from $25.00 to $26.00 and gave the company a market perform rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $26.00.

Toast Stock Up 0.3 %

TOST opened at $25.46 on Thursday. The stock’s fifty day moving average is $24.31 and its two-hundred day moving average is $20.42. The company has a market capitalization of $11.53 billion, a P/E ratio of -50.92 and a beta of 1.77. Toast has a 52 week low of $13.77 and a 52 week high of $27.90.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. Toast’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period last year, the business posted ($0.16) EPS. Equities analysts anticipate that Toast will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the transaction, the president now owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total value of $2,524,000.00. Following the sale, the executive now directly owns 22,956 shares in the company, valued at approximately $579,409.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the completion of the sale, the president now owns 2,835,759 shares in the company, valued at $66,356,760.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,010 shares of company stock worth $4,711,760. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several institutional investors have recently bought and sold shares of the company. Park Avenue Securities LLC boosted its holdings in Toast by 1.0% in the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after buying an additional 436 shares during the last quarter. Wellington Shields & Co. LLC boosted its holdings in Toast by 3.1% in the 1st quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after buying an additional 500 shares during the last quarter. Comerica Bank boosted its holdings in Toast by 10.9% in the 1st quarter. Comerica Bank now owns 6,167 shares of the company’s stock worth $154,000 after buying an additional 607 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Toast by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after purchasing an additional 774 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Toast by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock worth $2,914,000 after purchasing an additional 790 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.