Toast (NYSE:TOST) Price Target Cut to $38.00 by Analysts 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 report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also weighed in on TOST. UBS Group raised their price target on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 target price on shares of Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group increased their target price on shares of Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. One research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.38.

Toast Price Performance

Toast stock opened at $35.77 on Wednesday. Toast has a 12 month low of $21.32 and a 12 month high of $44.12. The company has a fifty day moving average price of $37.48 and a two-hundred day moving average price of $35.66. The company has a market cap 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.

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

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 2,052 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of the transaction, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Stephen Fredette sold 1,068 shares of the company’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 completion of the sale, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock worth $9,409,211 over the last quarter. Company insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares during the last quarter. Piscataqua Savings Bank bought a new stake in shares of Toast during the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Toast in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. bought a new position in Toast in the 4th quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Toast in the 4th quarter valued at $40,000. 82.91% of the stock is currently owned by institutional investors.

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.