Toast (NYSE:TOST) Given New $38.00 Price Target at The Goldman Sachs Group

Toast (NYSE:TOST) had its price target cut by investment analysts at The Goldman Sachs Group from $43.00 to $38.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 6.00% from the company’s current price.

TOST has been the topic of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Toast in a report on Thursday, February 20th. Canaccord Genuity Group raised their price target on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. BMO Capital Markets lifted their price objective on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. BNP Paribas set a $37.00 target price on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their target price on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.38.

Toast Price Performance

TOST stock traded up $1.59 during midday trading on Wednesday, hitting $35.85. 2,705,832 shares of the stock traded hands, compared to its average volume of 6,715,715. Toast has a 1-year low of $21.32 and a 1-year high of $44.12. The stock’s fifty day simple moving average is $37.63 and its 200-day simple moving average is $35.60. The firm has a market cap of $17.71 billion, a P/E ratio of -3,581.42, a PEG ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last posted its earnings results 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 firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. On average, research analysts predict that Toast will post 0.39 earnings per share for the current year.

Insider Activity at Toast

In related news, President Stephen Fredette sold 1,068 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elena Gomez sold 2,052 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $81,320.76. Following the transaction, the chief financial officer now directly owns 160,498 shares of the company’s stock, valued at approximately $6,360,535.74. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,770 shares of company stock worth $9,409,211. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TOST. California State Teachers Retirement System grew its stake in shares of Toast by 2.9% in the fourth quarter. California State Teachers Retirement System now owns 593,953 shares of the company’s stock valued at $21,650,000 after buying an additional 16,684 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Toast by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock valued at $829,000 after acquiring an additional 3,713 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Toast in the 4th quarter valued at about $2,296,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Toast during the fourth quarter worth about $280,000. Finally, Garde Capital Inc. purchased a new stake in Toast during the fourth quarter worth about $123,000. Hedge funds and other institutional investors 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.