Toast (NYSE:TOST) Stock Rating Reaffirmed by The Goldman Sachs Group

The Goldman Sachs Group restated their buy rating on shares of Toast (NYSE:TOST) in a research report released on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a $29.00 price objective on the stock.

TOST has been the topic of several other reports. Mizuho raised Toast from a neutral rating to an outperform rating and boosted their price target for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Robert W. Baird lowered Toast from an outperform rating to a neutral rating and set a $28.00 price objective for the company. in a report on Tuesday, May 21st. Morgan Stanley upped their price target on Toast from $29.00 to $30.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. Finally, Wedbush raised Toast to a strong-buy rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Toast presently has a consensus rating of Moderate Buy and an average target price of $28.22.

Toast Stock Up 0.4 %

Shares of TOST opened at $26.19 on Thursday. The firm has a market cap of $11.86 billion, a PE ratio of -52.38 and a beta of 1.75. The company’s fifty day moving average is $24.87 and its two-hundred day moving average is $24.47. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $27.90.

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

Insider Transactions at Toast

In other news, President Stephen Fredette sold 3,810 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $97,688.40. Following the transaction, the president now owns 2,847,315 shares in the company, valued at approximately $73,005,156.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Toast news, President Stephen Fredette sold 3,810 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40. Following the completion of the sale, the president now owns 2,847,315 shares of the company’s stock, valued at $73,005,156.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $25.55, for a total transaction of $2,555,000.00. Following the completion of the transaction, the executive now directly owns 31,919 shares in the company, valued at approximately $815,530.45. The disclosure for this sale can be found here. Insiders sold 731,612 shares of company stock valued at $18,129,920 in the last three months. Corporate insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several hedge funds and other institutional investors have recently made changes to their positions in TOST. International Assets Investment Management LLC grew its position in Toast by 1,542.9% during the fourth quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock worth $1,047,000 after buying an additional 53,846 shares in the last quarter. M&T Bank Corp grew its position in Toast by 8.0% during the fourth quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock worth $205,000 after buying an additional 829 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Toast by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock worth $42,184,000 after purchasing an additional 150,425 shares during the period. Principal Securities Inc. bought a new position in Toast during the fourth quarter worth about $30,000. Finally, QRG Capital Management Inc. lifted its stake in Toast by 117.9% during the fourth quarter. QRG Capital Management Inc. now owns 63,768 shares of the company’s stock worth $1,164,000 after purchasing an additional 34,504 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

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.