Toast (NYSE:TOST) PT Raised to $33.00

Toast (NYSE:TOST) had its target price boosted by The Goldman Sachs Group from $29.00 to $33.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the company. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Morgan Stanley lifted their price objective on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Robert W. Baird raised their price target on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday. Bank of America boosted their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

Toast Price Performance

TOST opened at $29.03 on Monday. Toast has a 12 month low of $13.77 and a 12 month high of $29.92. The business has a 50-day moving average of $25.88 and a two-hundred day moving average of $25.05. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of -100.10 and a beta of 1.76.

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

Insiders Place Their Bets

In other news, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 2,162 shares of Toast stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $51,888.00. Following the completion of the transaction, the chief financial officer now owns 183,931 shares of the company’s stock, valued at $4,414,344. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 840,562 shares of company stock worth $21,982,459 in the last three months. 13.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its stake in Toast by 18.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 37,047 shares of the company’s stock worth $676,000 after acquiring an additional 5,787 shares during the period. Integrated Advisors Network LLC acquired a new stake in shares of Toast during the 4th quarter worth approximately $186,000. Syon Capital LLC bought a new stake in shares of Toast in the 4th quarter worth approximately $377,000. Vanguard Group Inc. boosted its position in Toast by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after purchasing an additional 1,598,248 shares during the period. Finally, ST Germain D J Co. Inc. grew its stake in Toast by 50.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,500 shares of the company’s stock worth $187,000 after buying an additional 2,500 shares during the last quarter. 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.