Toast (NYSE:TOST) Earns Neutral Rating from The Goldman Sachs Group

Toast (NYSE:TOST)‘s stock had its “neutral” rating reaffirmed by The Goldman Sachs Group in a report issued on Monday,Benzinga reports. They presently have a $45.00 target price on the stock, up from their previous target price of $34.00. The Goldman Sachs Group’s price objective would suggest a potential upside of 3.35% from the stock’s current price.

Several other brokerages also recently commented on TOST. Wedbush increased their price objective on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Robert W. Baird upped their target price on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Compass Point started coverage on shares of Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price target for the company. Bank of America boosted their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Toast presently has a consensus rating of “Hold” and a consensus target price of $34.43.

Toast Trading Up 0.8 %

Shares of NYSE:TOST opened at $43.54 on Monday. The stock has a fifty day simple moving average of $33.09 and a two-hundred day simple moving average of $27.77. Toast has a 12-month low of $14.45 and a 12-month high of $44.12. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of -334.92, a PEG ratio of 55.49 and a beta of 1.74.

Insider Buying and Selling

In other news, Director David Yuan sold 189,785 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares of the company’s stock, valued at $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the transaction, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade represents a 7.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. 13.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after acquiring an additional 8,205,053 shares during the period. ValueAct Holdings L.P. purchased a new stake in shares of Toast in the third quarter worth about $438,301,000. State Street Corp raised its holdings in shares of Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after acquiring an additional 206,789 shares in the last quarter. Geode Capital Management LLC lifted its position in Toast by 2.3% during the third 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 during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after acquiring an additional 3,701,893 shares in the last quarter. 82.91% of the stock is 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.