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

Toast (NYSE:TOST) had its price objective increased by analysts at Wells Fargo & Company from $25.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 20.55% from the company’s current price.

TOST has been the subject of several other reports. Royal Bank of Canada raised their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Compass Point assumed coverage on shares of Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Wednesday, November 20th. Piper Sandler upped their price target on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Robert W. Baird raised their price objective on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Toast has a consensus rating of “Hold” and an average target price of $35.27.

Toast Stock Up 2.4 %

Shares of NYSE TOST opened at $37.76 on Thursday. Toast has a 12 month low of $16.13 and a 12 month high of $44.12. The company has a market cap of $17.78 billion, a price-to-earnings ratio of -290.46, a P/E/G ratio of 1.83 and a beta of 1.97. The business has a fifty day simple moving average of $38.91 and a 200-day simple moving average of $30.94.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 1,646 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $51,157.68. Following the completion of the sale, the chief executive officer now directly owns 969,970 shares in the company, valued at approximately $30,146,667.60. The trade was a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the transaction, the director now owns 198,829 shares in the company, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 562,600 shares of company stock valued at $21,823,932 over the last quarter. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Makena Capital Management LLC grew its stake in shares of Toast by 7.6% in the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after acquiring an additional 19,371 shares during the last quarter. KBC Group NV boosted its holdings in Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock valued at $1,213,000 after purchasing an additional 17,106 shares during the period. Geode Capital Management LLC grew its position in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after purchasing an additional 155,212 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after purchasing an additional 65,957 shares during the period. Finally, Qsemble Capital Management LP raised its position in shares of Toast by 52.1% during the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock valued at $1,919,000 after buying an additional 23,231 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.