Wedbush Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its price target hoisted by stock analysts at Wedbush from $35.00 to $45.00 in a report released on Friday, MarketBeat.com reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 20.06% from the company’s previous close.

Other analysts have also recently issued reports about the company. Stephens increased their price target on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Bank of America increased their target price on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft raised their target price on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.80.

Toast Trading Up 14.7 %

TOST opened at $37.48 on Friday. The company’s 50-day moving average price is $28.19 and its 200 day moving average price is $25.99. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $38.40.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Aman Narang sold 10,106 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the sale, the chief executive officer now owns 968,095 shares in the company, valued at approximately $26,883,998.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares in the company, valued at $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 sold 1,375,651 shares of company stock valued at $38,150,212 over the last 90 days. 13.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several hedge funds have recently modified their holdings of TOST. Capital International Investors raised its holdings in Toast by 12.2% during the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after buying an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after acquiring an additional 3,445,788 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Toast by 9.1% during the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after acquiring an additional 833,390 shares during the period. Whale Rock Capital Management LLC purchased a new stake in shares of Toast in the 1st quarter valued at approximately $179,111,000. Finally, Meritage Group LP boosted its stake in Toast by 37.3% in the 1st quarter. Meritage Group LP now owns 5,284,811 shares of the company’s stock worth $131,697,000 after purchasing an additional 1,436,494 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.