Toast (NYSE:TOST) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Toast (NYSE:TOST) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

TOST has been the subject of several other reports. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Canaccord Genuity Group lifted their price target on shares of Toast from $48.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a report on Wednesday, October 8th. DA Davidson lifted their price target on shares of Toast from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. Finally, Truist Financial lifted their price target on shares of Toast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.17.

Toast Stock Performance

TOST opened at $38.32 on Wednesday. The company has a 50-day moving average of $39.70 and a 200-day moving average of $41.12. The company has a market capitalization of $19.54 billion, a P/E ratio of 112.71 and a beta of 1.94. Toast has a 1-year low of $28.12 and a 1-year high of $49.66.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.Toast’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. As a group, sell-side analysts expect that Toast will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other Toast news, President Stephen Fredette sold 7,550 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $268,478.00. Following the completion of the transaction, the president directly owned 898,475 shares of the company’s stock, valued at $31,949,771. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $232,206.80. Following the transaction, the executive directly owned 69,932 shares of the company’s stock, valued at $2,486,781.92. The trade was a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,196 shares of company stock worth $2,398,513 over the last three months. Insiders own 12.14% of the company’s stock.

Institutional Trading of Toast

Institutional investors have recently made changes to their positions in the stock. RiverPark Advisors LLC acquired a new stake in shares of Toast in the 2nd quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new stake in shares of Toast in the 3rd quarter worth approximately $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Toast in the 2nd quarter worth approximately $31,000. Wayfinding Financial LLC bought a new stake in shares of Toast in the 1st quarter worth approximately $34,000. Finally, REAP Financial Group LLC raised its holdings in shares of Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after purchasing an additional 506 shares in the last quarter. 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.