The Goldman Sachs Group Raises Toast (NYSE:TOST) Price Target to $33.00

Toast (NYSE:TOST) had its price target increased by The Goldman Sachs Group from $29.00 to $33.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the stock.

TOST has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley boosted their price objective on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Bank of America raised their target price on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research report on Wednesday, August 7th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

Toast Price Performance

Shares of Toast stock opened at $29.03 on Monday. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of -100.10 and a beta of 1.76. The firm’s fifty day simple moving average is $25.88 and its 200-day simple moving average is $25.05. Toast has a 12 month low of $13.77 and a 12 month high of $29.92.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned ($0.19) earnings per share. The business’s revenue was up 27.0% compared to the same quarter last year. Analysts anticipate that Toast will post -0.1 earnings per share for the current year.

Insider Buying and Selling

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 completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Toast news, President Stephen Fredette sold 211,686 shares of the company’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 owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 1,541 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $36,984.00. Following the transaction, the executive now directly owns 33,312 shares of the company’s stock, valued at approximately $799,488. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 840,562 shares of company stock worth $21,982,459 in the last three months. Corporate insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Institutional investors have recently made changes to their positions in the stock. Whale Rock Capital Management LLC acquired a new stake in shares of Toast during the first quarter valued at $179,111,000. Capital International Investors boosted its stake in shares of 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 purchasing an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 worth $486,557,000 after buying an additional 3,445,788 shares in the last quarter. Marshall Wace LLP raised its position in shares of Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after buying an additional 1,604,716 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Toast by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after buying an additional 1,598,248 shares during the period. 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.