Toast (NYSE:TOST) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Toast (NYSE:TOST) in a research note published on Thursday, RTT News reports. Wedbush currently has a $30.00 price target on the stock.

A number of other equities analysts also recently weighed in on TOST. The Goldman Sachs Group boosted their price target on Toast from $26.00 to $29.00 and gave the stock a buy rating in a research report on Monday, April 15th. Canaccord Genuity Group upped their target price on Toast from $22.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Wells Fargo & Company upped 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. Piper Sandler upped their target price on Toast from $20.00 to $25.00 and gave the company a neutral rating in a research report on Thursday, May 9th. Finally, Robert W. Baird downgraded 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $26.00.

Toast Stock Performance

Shares of NYSE TOST opened at $25.39 on Thursday. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The business has a 50-day moving average of $24.27 and a 200-day moving average of $20.34.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.15). The firm 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%. The business’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Research analysts anticipate that Toast will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 12,500 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 176,980 shares in the company, valued at $4,670,502.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Aman Narang sold 2,471 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 12,500 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The disclosure for this sale can be found here. Insiders sold 193,010 shares of company stock worth $4,711,760 over the last three months. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. grew its holdings in Toast by 105.0% during the 3rd quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock worth $12,943,000 after acquiring an additional 353,903 shares during the period. Vanguard Group Inc. grew its holdings in Toast by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after acquiring an additional 3,494,579 shares during the period. ARK Investment Management LLC grew its holdings in Toast by 101.5% during the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock worth $42,829,000 after acquiring an additional 1,181,409 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Toast by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock worth $42,184,000 after acquiring an additional 150,425 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Toast in the 3rd quarter valued at about $936,000. 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.