Toast (NYSE:TOST) Given New $38.00 Price Target at The Goldman Sachs Group

Toast (NYSE:TOST) had its price objective dropped by The Goldman Sachs Group from $43.00 to $38.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 6.00% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Oppenheimer started coverage on shares of Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 price target for the company. UBS Group lifted their price objective on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 target price on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Wells Fargo & Company raised their price target on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada upped their price objective on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.38.

Toast Price Performance

Shares of NYSE TOST traded up $1.59 during mid-day trading on Wednesday, hitting $35.85. The company had a trading volume of 2,705,832 shares, compared to its average volume of 6,715,715. Toast has a 1-year low of $21.32 and a 1-year high of $44.12. The company has a market capitalization of $17.71 billion, a PE ratio of -3,581.42, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The business’s 50-day simple moving average is $37.63 and its 200 day simple moving average is $35.60.

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

Insider Activity

In other news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the completion of the sale, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. This represents a 29.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the transaction, the director now owns 13,260 shares in the company, valued at $437,712.60. This trade represents a 72.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock valued at $9,409,211 in the last ninety days. 13.32% of the stock is currently owned by company insiders.

Institutional Trading of Toast

A number of hedge funds have recently added to or reduced their stakes in TOST. Bank of Montreal Can raised its stake in shares of Toast by 6.5% during the third quarter. Bank of Montreal Can now owns 65,607 shares of the company’s stock worth $1,837,000 after purchasing an additional 3,996 shares during the last quarter. Townsquare Capital LLC grew its position in Toast by 13.5% in the 3rd quarter. Townsquare Capital LLC now owns 9,217 shares of the company’s stock valued at $261,000 after buying an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Toast by 32.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,812 shares of the company’s stock valued at $3,335,000 after buying an additional 28,663 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Toast by 17.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,504,641 shares of the company’s stock worth $42,596,000 after buying an additional 218,313 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Toast by 23.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 113,974 shares of the company’s stock worth $3,227,000 after acquiring an additional 21,806 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

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.