The Goldman Sachs Group Cuts Toast (NYSE:TOST) Price Target to $38.00

Toast (NYSE:TOST) had its price objective cut by The Goldman Sachs Group from $43.00 to $38.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

TOST has been the topic of a number of other research reports. DA Davidson reiterated a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Toast in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price objective on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Oppenheimer assumed coverage on shares of Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, BMO Capital Markets increased their price objective on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Toast has a consensus rating of “Hold” and a consensus target price of $40.38.

Toast Trading Down 6.4 %

TOST stock opened at $30.58 on Wednesday. The stock has a market cap of $15.10 billion, a PE ratio of -3,054.55, a P/E/G ratio of 2.16 and a beta of 1.99. Toast has a 12 month low of $21.32 and a 12 month high of $44.12. The company has a 50-day moving average price of $37.16 and a 200 day moving average price of $35.67.

Toast (NYSE:TOST) last released its earnings results on Wednesday, February 19th. The company reported $0.05 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 business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sell-side analysts forecast that Toast will post 0.39 EPS for the current year.

Insider Activity at Toast

In other news, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the sale, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of the company’s 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 transaction, the director now owns 164,796 shares in the company, valued at approximately $5,884,865.16. This trade represents a 29.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,770 shares of company stock valued at $9,409,211 over the last 90 days. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Several large investors have recently bought and sold shares of TOST. Vanguard Group Inc. lifted its stake in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the period. Capital International Investors lifted its position in Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after acquiring an additional 785,641 shares during the period. FMR LLC grew its stake in Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after purchasing an additional 5,403,896 shares during the last quarter. ValueAct Holdings L.P. purchased a new stake in Toast during the 3rd quarter valued at about $438,301,000. Finally, State Street Corp raised its stake in shares of Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.