The Goldman Sachs Group Cuts Toast (NYSE:TOST) Price Target to $40.00

Toast (NYSE:TOST - Get Free Report) had its price target decreased by equities researchers at The Goldman Sachs Group from $45.00 to $40.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target indicates a potential upside of 11.98% from the stock's current price.

Several other research firms also recently commented on TOST. Bank of America raised their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, September 17th. DA Davidson reaffirmed a "neutral" rating and issued a $38.00 price target (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Toast from $24.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, November 4th. BMO Capital Markets started coverage on Toast in a research note on Monday. They issued an "outperform" rating and a $45.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Toast from $28.00 to $36.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Toast has a consensus rating of "Hold" and an average target price of $35.05.

Toast Stock Performance

TOST traded down $1.49 during midday trading on Friday, reaching $35.72. The company had a trading volume of 5,395,214 shares, compared to its average volume of 4,803,302. Toast has a 12-month low of $16.13 and a 12-month high of $44.12. The business has a 50-day moving average price of $38.43 and a two-hundred day moving average price of $30.50. The stock has a market cap of $16.82 billion, a PE ratio of -274.77, a P/E/G ratio of 23.40 and a beta of 1.97.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 40,459 shares of the stock in a transaction dated 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 $49,376,189.28. This represents a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Yuan sold 189,785 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,109,307 shares of company stock worth $38,235,613 over the last ninety days. Insiders own 13.32% of the company's stock.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently modified their holdings of the company. Toth Financial Advisory Corp bought a new stake in shares of Toast in the third quarter worth about $28,000. Raleigh Capital Management Inc. grew its position in shares of Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company's stock worth $42,000 after buying an additional 720 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock valued at $58,000 after buying an additional 496 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Toast during the third quarter valued at approximately $59,000. Finally, Truvestments Capital LLC purchased a new stake in Toast in the third quarter worth $65,000. Hedge funds and other 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.