Toast (NYSE:TOST) PT Raised to $29.00 at The Goldman Sachs Group

Toast (NYSE:TOST) had its price objective raised by The Goldman Sachs Group from $26.00 to $29.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on TOST. Redburn Atlantic raised Toast from a neutral rating to a buy rating and set a $28.00 price target for the company in a research note on Wednesday, February 7th. Wells Fargo & Company raised their target price on Toast from $15.00 to $17.00 and gave the stock an underweight rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods began coverage on Toast in a research note on Tuesday, April 9th. They set a market perform rating and a $25.00 target price for the company. Evercore ISI began coverage on Toast in a research note on Monday, March 4th. They set an outperform rating and a $32.00 target price for the company. Finally, Mizuho reaffirmed a neutral rating and set a $17.00 target price on shares of Toast in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Toast presently has a consensus rating of Hold and a consensus target price of $24.32.

Toast Stock Up 1.4 %

Shares of TOST opened at $22.76 on Monday. The stock has a market cap of $9.95 billion, a PE ratio of -44.63 and a beta of 1.79. The business has a 50-day simple moving average of $22.96 and a two-hundred day simple moving average of $18.99. Toast has a 12-month low of $13.77 and a 12-month high of $27.00.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. On average, equities research analysts expect that Toast will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 2,272 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the sale, the president now directly owns 2,835,759 shares in the company, valued at $66,356,760.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, President Stephen Fredette sold 2,272 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the sale, the president now owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aman Narang sold 2,471 shares of Toast stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the transaction, the chief executive officer now directly owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 414,486 shares of company stock valued at $8,662,487. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Baystate Wealth Management LLC bought a new position in shares of Toast in the third quarter worth approximately $29,000. BluePath Capital Management LLC bought a new position in shares of Toast in the third quarter worth approximately $30,000. Principal Securities Inc. bought a new position in shares of Toast in the fourth quarter worth approximately $30,000. Cape Investment Advisory Inc. purchased a new stake in Toast in the fourth quarter worth approximately $31,000. Finally, PNC Financial Services Group Inc. boosted its stake in Toast by 277.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock worth $31,000 after buying an additional 1,257 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

About Toast

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.