Analysts Set Toast, Inc. (NYSE:TOST) Price Target at $34.81

Toast, Inc. (NYSE:TOST) has earned a consensus rating of “Hold” from the twenty-two brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $34.81.

A number of research firms recently commented on TOST. JPMorgan Chase & Co. raised their price target on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wedbush raised their target price on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods raised their target price on shares of Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, December 9th. Finally, Compass Point initiated coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 target price on the stock.

Toast Stock Performance

NYSE:TOST opened at $38.13 on Wednesday. Toast has a 52 week low of $16.13 and a 52 week high of $44.12. The firm has a market cap of $17.96 billion, a price-to-earnings ratio of -293.31, a P/E/G ratio of 23.40 and a beta of 1.93. The firm’s 50-day simple moving average is $35.36 and its 200 day simple moving average is $28.70.

Insider Buying and Selling

In related news, Director David Yuan sold 189,785 shares of Toast stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the sale, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 144,238 shares of Toast stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $27.34, for a total transaction of $3,943,466.92. Following the sale, the president now owns 2,160,499 shares in the company, valued at approximately $59,068,042.66. This represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,375,061 shares of company stock worth $44,557,182 in the last ninety days. Company insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several hedge funds have recently added to or reduced their stakes in TOST. West Branch Capital LLC acquired a new position in shares of Toast in the 2nd quarter worth approximately $26,000. Toth Financial Advisory Corp acquired a new position in shares of Toast in the 3rd quarter worth approximately $28,000. 1620 Investment Advisors Inc. acquired a new position in shares of Toast in the 2nd quarter worth approximately $34,000. Raleigh Capital Management Inc. lifted its position in shares of Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 720 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after purchasing an additional 496 shares during the period. 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.