Toast (NYSE:TOST) PT Raised to $33.00

Toast (NYSE:TOST) had its price target boosted by equities researchers at The Goldman Sachs Group from $29.00 to $33.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 14.86% from the company’s current price.

TOST has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research report on Wednesday, August 7th. Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Bank of America upped their target price on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Robert W. Baird upped their target price on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Morgan Stanley upped their target price on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.67.

Toast Stock Up 2.1 %

Toast stock opened at $28.73 on Monday. Toast has a 52-week low of $13.77 and a 52-week high of $29.92. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of -57.46 and a beta of 1.76. The company has a fifty day simple moving average of $25.79 and a 200-day simple moving average of $25.02.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. On average, research analysts anticipate that Toast will post -0.1 EPS for the current fiscal year.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction that occurred 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 directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CRO Jonathan Vassil sold 1,541 shares of Toast stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $36,984.00. Following the transaction, the executive now directly owns 33,312 shares in the company, valued at $799,488. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 completion of the transaction, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 840,562 shares of company stock worth $21,982,459. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently bought and sold shares of TOST. West Branch Capital LLC acquired a new stake in Toast in the second quarter valued at $26,000. LRI Investments LLC acquired a new stake in Toast in the first quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Toast in the second quarter valued at $33,000. 1620 Investment Advisors Inc. acquired a new stake in Toast in the second quarter valued at $34,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Toast during the 1st quarter worth $37,000. 82.91% of the stock is currently owned by hedge funds and other 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.