The Goldman Sachs Group Cuts Toast (NYSE:TOST) Price Target to $38.00

Toast (NYSE:TOST - Free Report) had its target price cut by The Goldman Sachs Group from $43.00 to $38.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

Several other equities analysts have also commented on the company. Oppenheimer began coverage on Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 target price on shares of Toast and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada boosted their price objective on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Finally, BMO Capital Markets raised their target price on Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $40.38.

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Toast Stock Up 0.5 %

Shares of TOST stock traded up $0.15 during trading hours on Wednesday, hitting $30.69. 11,661,154 shares of the company were exchanged, compared to its average volume of 6,789,235. The firm has a market cap of $15.16 billion, a PE ratio of -3,065.43, a PEG ratio of 2.16 and a beta of 2.00. Toast has a 1 year low of $21.32 and a 1 year high of $44.12. The firm has a fifty day moving average of $37.16 and a 200 day moving average of $35.79.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Analysts expect that Toast will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 70,340 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the sale, the president now directly owns 1,574,316 shares of the company's stock, valued at $53,322,082.92. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now directly owns 209,206 shares of the company's stock, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 270,770 shares of company stock valued at $9,409,211. 13.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Toast

Several hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Toast by 0.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company's stock worth $1,408,000 after purchasing an additional 301 shares in the last quarter. Keel Point LLC increased its holdings in shares of Toast by 2.7% in the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after purchasing an additional 326 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Toast by 11.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock worth $125,000 after acquiring an additional 358 shares during the last quarter. Mirador Capital Partners LP increased its position in Toast by 0.9% during the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company's stock worth $1,529,000 after acquiring an additional 360 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after buying an additional 378 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

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.