The Goldman Sachs Group Issues Pessimistic Forecast for Toast (NYSE:TOST) Stock Price

Toast (NYSE:TOST) had its price target dropped by equities researchers at The Goldman Sachs Group from $45.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 11.98% from the stock’s previous close.

Several other brokerages also recently weighed in on TOST. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Wednesday, November 20th. Keefe, Bruyette & Woods increased their price objective on shares of Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Robert W. Baird lifted their target price on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus target price of $35.05.

Toast Trading Down 4.0 %

Shares of TOST stock opened at $35.72 on Friday. Toast has a 12 month low of $16.13 and a 12 month high of $44.12. The company has a market cap of $16.82 billion, a P/E ratio of -274.77, a PEG ratio of 23.40 and a beta of 1.97. The firm has a fifty day moving average price of $38.53 and a 200 day moving average price of $30.57.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 40,459 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total transaction of $1,174,929.36. Following the completion of the sale, the president now directly owns 1,700,282 shares in the company, valued at approximately $49,376,189.28. The trade was a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 1,646 shares of Toast stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $51,157.68. Following the sale, the chief executive officer now directly owns 969,970 shares in the company, valued at approximately $30,146,667.60. The trade was a 0.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,109,307 shares of company stock valued at $38,235,613. Corporate insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently modified their holdings of the company. Trinity Financial Advisors LLC grew its holdings in shares of Toast by 26.0% during the fourth quarter. Trinity Financial Advisors LLC now owns 12,590 shares of the company’s stock valued at $458,000 after purchasing an additional 2,595 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Toast by 9.6% during the fourth quarter. Nordea Investment Management AB now owns 33,882 shares of the company’s stock valued at $1,238,000 after acquiring an additional 2,975 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Toast in the fourth quarter valued at $451,000. GAMMA Investing LLC lifted its stake in Toast by 106.8% in the 4th quarter. GAMMA Investing LLC now owns 2,784 shares of the company’s stock worth $101,000 after acquiring an additional 1,438 shares in the last quarter. Finally, Synovus Financial Corp acquired a new stake in shares of Toast during the third quarter worth approximately $425,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.