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

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

TOST has been the subject of several other reports. Morgan Stanley increased their target price on Toast from $29.00 to $30.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Mizuho upgraded Toast from a neutral rating to an outperform rating and increased their target price for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. Wedbush upgraded Toast to a strong-buy rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a buy rating and issued a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. Finally, Bank of America increased their target price on Toast from $26.00 to $28.00 and gave the company a neutral rating in a research report on Tuesday, September 17th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $28.67.

Toast Stock Down 0.7 %

Shares of TOST stock opened at $28.15 on Monday. Toast has a twelve month low of $13.77 and a twelve month high of $29.92. The company has a market cap of $12.75 billion, a P/E ratio of -56.30 and a beta of 1.76. The business has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $25.00.

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

Insider Buying and Selling

In related news, President Stephen Fredette sold 39,768 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.02, for a total transaction of $1,154,067.36. Following the completion of the sale, the president now owns 1,795,301 shares of the company’s stock, valued at $52,099,635.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Toast news, CRO Jonathan Vassil sold 1,541 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $36,984.00. Following the transaction, the executive now owns 33,312 shares in the company, valued at approximately $799,488. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 39,768 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.02, for a total value of $1,154,067.36. Following the completion of the transaction, the president now owns 1,795,301 shares in the company, valued at approximately $52,099,635.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 930,562 shares of company stock valued at $24,371,059 over the last 90 days. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after acquiring an additional 421 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Toast by 1.0% in the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after purchasing an additional 436 shares in the last quarter. Wellington Shields & Co. LLC lifted its holdings in shares of Toast by 3.1% in the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after purchasing an additional 500 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Toast by 8.4% in the second quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock valued at $174,000 after purchasing an additional 520 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of Toast by 10.9% in the first quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after purchasing an additional 607 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

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.