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

The Goldman Sachs Group reiterated their neutral rating on shares of Toast (NYSE:TOST) in a report released on Monday, MarketBeat reports. The firm currently has a $45.00 price target on the stock, up from their previous price target of $34.00.

A number of other research firms have also recently weighed in on TOST. Bank of America increased their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Compass Point began coverage on shares of Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, November 8th. BNP Paribas lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their price target on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.43.

Toast Price Performance

Toast stock opened at $42.36 on Monday. The firm has a 50 day simple moving average of $33.38 and a 200-day simple moving average of $27.88. Toast has a 1-year low of $14.45 and a 1-year high of $44.12. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of -325.85, a price-to-earnings-growth 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 business’s stock in a transaction that occurred 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 transaction, the director now owns 198,829 shares of the company’s stock, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at approximately $5,404,436.04. This represents a 62.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. Corporate insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of institutional investors have recently modified their holdings of TOST. D.A. Davidson & CO. grew its stake in Toast by 1.9% during the third quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after buying an additional 409 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after acquiring an additional 421 shares in the last quarter. Private Advisor Group LLC raised its holdings in Toast by 1.6% in the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after acquiring an additional 441 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Toast by 3.7% in the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after acquiring an additional 448 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after purchasing an additional 496 shares during the period. Institutional investors and hedge funds 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.