Wedbush Upgrades Toast (NYSE:TOST) to “Strong-Buy”

Toast (NYSE:TOST) was upgraded by stock analysts at Wedbush to a “strong-buy” rating in a note issued to investors on Friday, Zacks.com reports. Wedbush also issued estimates for Toast’s Q1 2025 earnings at $0.06 EPS, Q2 2025 earnings at $0.10 EPS, Q3 2025 earnings at $0.11 EPS and Q4 2025 earnings at $0.09 EPS.

A number of other research analysts have also recently issued reports on the stock. Bank of America cut their target price on shares of Toast from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research report on Tuesday, May 21st. JPMorgan Chase & Co. increased their target price on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. Finally, Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus target price of $28.22.

Toast Stock Up 1.4 %

Shares of TOST opened at $23.62 on Friday. The company has a 50-day moving average price of $24.90 and a two-hundred day moving average price of $24.38. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of -47.24 and a beta of 1.75. Toast has a 12 month low of $13.77 and a 12 month high of $27.90.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned ($0.19) EPS. Toast’s revenue was up 27.0% on a year-over-year basis. Equities research analysts expect that Toast will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher P. Comparato sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total transaction of $2,435,000.00. Following the completion of the transaction, the director now directly owns 120,107 shares in the company, valued at approximately $2,924,605.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Christopher P. Comparato sold 90,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $26.54, for a total value of $2,388,600.00. Following the completion of the sale, the director now owns 112,282 shares in the company, valued at approximately $2,979,964.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher P. Comparato sold 100,000 shares of Toast stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $24.35, for a total value of $2,435,000.00. Following the transaction, the director now owns 120,107 shares in the company, valued at $2,924,605.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 418,352 shares of company stock valued at $10,526,982. Company insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several large investors have recently modified their holdings of TOST. Charles Schwab Investment Management Inc. increased its position in shares of Toast by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock worth $42,184,000 after acquiring an additional 150,425 shares in the last quarter. Meritage Group LP acquired a new stake in shares of Toast in the 4th quarter valued at about $70,270,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Toast in the first quarter valued at about $5,078,000. Syon Capital LLC acquired a new position in shares of Toast during the fourth quarter worth about $377,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Toast by 8,092.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock worth $1,267,000 after buying an additional 68,539 shares in the last quarter. 82.91% of the stock is currently owned by 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.