Toast (NYSE:TOST) Price Target Raised to $45.00

Toast (NYSE:TOST) had its price objective raised by Wedbush from $35.00 to $45.00 in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on TOST. Deutsche Bank Aktiengesellschaft upped their target price on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group increased their price target on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stephens increased their price target on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Robert W. Baird increased their price target on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.30.

Toast Trading Up 1.3 %

Shares of Toast stock opened at $37.96 on Friday. The company has a fifty day simple moving average of $28.45 and a 200-day simple moving average of $26.11. Toast has a 12-month low of $13.77 and a 12-month high of $38.40. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of -291.96 and a beta of 1.74.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Toast news, CEO Aman Narang sold 10,106 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 $26,883,998.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,375,651 shares of company stock valued at $38,150,212 in the last ninety days. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently bought and sold shares of TOST. Allspring Global Investments Holdings LLC grew its stake in Toast by 52.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,910 shares of the company’s stock worth $97,000 after buying an additional 1,345 shares during the period. Norden Group LLC purchased a new stake in Toast during the first quarter worth approximately $254,000. Duality Advisers LP purchased a new stake in Toast during the first quarter worth approximately $1,172,000. Empowered Funds LLC grew its stake in Toast by 16.0% during the first quarter. Empowered Funds LLC now owns 75,100 shares of the company’s stock worth $1,871,000 after buying an additional 10,363 shares during the period. Finally, SG Americas Securities LLC grew its stake in Toast by 1,554.6% during the first quarter. SG Americas Securities LLC now owns 312,844 shares of the company’s stock worth $7,796,000 after buying an additional 293,937 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.