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

Toast (NYSE:TOST) had its price objective upped by Wells Fargo & Company from $23.00 to $25.00 in a research note released on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other equities research analysts have also recently weighed in on TOST. Bank of America increased their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Wedbush increased their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird increased their price objective on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.30.

Toast Trading Up 1.3 %

TOST opened at $37.96 on Friday. Toast has a 1-year low of $13.77 and a 1-year high of $38.40. The stock’s fifty day simple moving average is $28.45 and its 200 day simple moving average is $26.11. The stock has a market cap of $17.50 billion, a PE ratio of -291.96 and a beta of 1.74.

Insider Activity

In other news, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Elena Gomez sold 1,917 shares of Toast stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $59,580.36. Following the transaction, the chief financial officer now directly owns 159,615 shares of the company’s stock, valued at $4,960,834.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares in the company, valued at approximately $26,883,998.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,375,651 shares of company stock valued at $38,150,212. 13.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently made changes to their positions in the stock. West Branch Capital LLC acquired a new position in shares of Toast in the second quarter worth approximately $26,000. LRI Investments LLC bought a new stake in Toast in the first quarter worth approximately $27,000. Toth Financial Advisory Corp bought a new stake in Toast in the third quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toast in the second quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Toast in the second quarter worth approximately $34,000. 82.91% of the stock is 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.