Toast (NYSE:TOST) Price Target Cut to $40.00 by Analysts at The Goldman Sachs Group

Toast (NYSE:TOST) had its price target lowered by investment analysts at The Goldman Sachs Group from $45.00 to $40.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 11.98% from the company’s current price.

A number of other brokerages have also issued reports on TOST. Stephens lifted their price objective on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. DA Davidson restated a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. Robert W. Baird increased their price target on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their target price on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Finally, Bank of America lifted their price objective on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus price target of $35.05.

Toast Stock Down 4.0 %

Shares of Toast stock opened at $35.72 on Friday. The firm’s 50-day moving average price is $38.53 and its two-hundred day moving average price is $30.57. Toast has a 12-month low of $16.13 and a 12-month high of $44.12. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of -274.77, a PEG ratio of 23.40 and a beta of 1.97.

Insider Activity

In other Toast news, President Stephen Fredette sold 40,459 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total value of $1,174,929.36. Following the completion of the sale, the president now owns 1,700,282 shares of the company’s stock, valued at $49,376,189.28. This represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now directly owns 182,451 shares in the company, valued at approximately $6,575,534.04. The trade was a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,109,307 shares of company stock worth $38,235,613. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in Toast by 4.6% during the second quarter. Principal Financial Group Inc. now owns 38,663 shares of the company’s stock valued at $996,000 after purchasing an additional 1,716 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Toast by 3.4% during the second quarter. Victory Capital Management Inc. now owns 49,002 shares of the company’s stock worth $1,263,000 after buying an additional 1,611 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Toast during the second quarter valued at approximately $714,000. Los Angeles Capital Management LLC bought a new stake in Toast in the second quarter valued at $221,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Toast during the 2nd quarter worth about $364,000. Hedge funds and other institutional investors 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.