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

Wedbush restated their outperform rating on shares of Toast (NYSE:TOST) in a research note published on Thursday morning, MarketBeat.com reports. The brokerage currently has a $30.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods upped their target price on Toast from $25.00 to $26.00 and gave the stock a market perform rating in a research report on Wednesday, May 8th. Wells Fargo & Company upped their price objective on Toast from $17.00 to $19.00 and gave the company an underweight rating in a report on Wednesday, May 8th. Canaccord Genuity Group lifted their target price on Toast from $22.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, May 8th. UBS Group raised their price objective on shares of Toast from $22.00 to $31.00 and gave the company a buy rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada raised their price objective on shares of Toast from $23.00 to $27.00 and gave the company a sector perform rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $26.00.

Toast Stock Performance

Shares of TOST stock opened at $25.46 on Thursday. Toast has a 1 year low of $13.77 and a 1 year high of $27.90. The firm has a market capitalization of $11.53 billion, a PE ratio of -50.92 and a beta of 1.77. The stock has a fifty day moving average of $24.31 and a two-hundred day moving average of $20.39.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted ($0.16) EPS. Toast’s revenue was up 31.3% compared to the same quarter last year. Equities research analysts predict that Toast will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 2,272 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 directly owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the sale, the executive now directly owns 22,956 shares of the company’s stock, valued at $579,409.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Fredette sold 2,272 shares of the stock in a transaction that occurred on 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 transaction, the president now owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders sold 193,010 shares of company stock valued at $4,711,760 over the last three months. 13.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently added to or reduced their stakes in TOST. LRI Investments LLC acquired a new position in Toast in the first quarter worth approximately $27,000. Principal Securities Inc. acquired a new position in Toast in the fourth quarter worth approximately $30,000. Cape Investment Advisory Inc. acquired a new position in Toast in the fourth quarter worth approximately $31,000. SRS Capital Advisors Inc. acquired a new position in Toast in the third quarter worth approximately $33,000. Finally, Larson Financial Group LLC increased its holdings in Toast by 8,181.8% in the third quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock worth $34,000 after buying an additional 1,800 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.