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

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

A number of other equities research analysts also recently issued reports on TOST. Canaccord Genuity Group increased their price objective on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets increased their price target on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. DA Davidson restated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Royal Bank of Canada raised their target price on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Finally, Morgan Stanley boosted their price target on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Toast has a consensus rating of “Hold” and an average price target of $40.38.

Toast Trading Up 4.4 %

Shares of TOST opened at $35.77 on Wednesday. The stock has a market capitalization of $17.67 billion, a PE ratio of -3,573.43, a P/E/G ratio of 2.16 and a beta of 1.99. The firm’s 50 day moving average is $37.48 and its 200-day moving average is $35.66. Toast has a 12 month low of $21.32 and a 12 month high of $44.12.

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

Insider Activity at Toast

In related news, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $33.87, for a total value of $2,382,415.80. Following the sale, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,770 shares of company stock worth $9,409,211 over the last three months. Company insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after purchasing an additional 155,212 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after buying an additional 65,957 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after buying an additional 155,446 shares during the period. Zacks Investment Management increased its stake in shares of Toast by 14.2% in the 3rd quarter. Zacks Investment Management now owns 338,017 shares of the company’s stock valued at $9,569,000 after acquiring an additional 42,100 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Toast by 134.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock valued at $14,319,000 after acquiring an additional 225,215 shares during the period. 82.91% of the stock is currently 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.