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

by · The Markets Daily

Toast (NYSE:TOST – Get Free Report) had its price target boosted by analysts at The Goldman Sachs Group from $29.00 to $33.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 18.07% from the stock’s current price.

A number of other research firms have also commented on TOST. Morgan Stanley raised their price target on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and upped their price target for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Finally, Robert W. Baird increased their target price on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.67.

Read Our Latest Report on Toast

Toast Trading Down 1.4 %

Shares of NYSE:TOST traded down $0.39 during mid-day trading on Monday, reaching $27.95. The stock had a trading volume of 1,668,261 shares, compared to its average volume of 7,213,871. The firm has a 50 day simple moving average of $25.70 and a two-hundred day simple moving average of $25.00. Toast has a twelve month low of $13.77 and a twelve month high of $29.92. The firm has a market cap of $12.88 billion, a PE ratio of -96.38 and a beta of 1.76.

Toast (NYSE:TOST – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping 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 company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm posted ($0.19) earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, equities analysts anticipate that Toast will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 1,856 shares of the business’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 $44,544.00. Following the transaction, the chief executive officer now owns 1,132,708 shares of the company’s stock, valued at $27,184,992. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Toast news, CEO Aman Narang sold 1,856 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $44,544.00. Following the transaction, the chief executive officer now directly owns 1,132,708 shares in the company, valued at $27,184,992. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold a total of 930,562 shares of company stock worth $24,371,059 over the last quarter. 13.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently modified their holdings of the company. Wynn Capital LLC increased its position in Toast by 23.4% during the third quarter. Wynn Capital LLC now owns 12,700 shares of the company’s stock worth $360,000 after acquiring an additional 2,405 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Toast during the third quarter worth approximately $82,000. Trevian Wealth Management LLC acquired a new stake in shares of Toast in the third quarter valued at approximately $1,398,000. Atomi Financial Group Inc. acquired a new stake in shares of Toast in the third quarter valued at approximately $330,000. Finally, Mirador Capital Partners LP boosted its stake in shares of Toast by 7.4% in the third quarter. Mirador Capital Partners LP now owns 41,578 shares of the company’s stock valued at $1,177,000 after buying an additional 2,862 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

About Toast

(Get Free Report)

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.

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