Toast (NYSE:TOST) PT Raised to $29.00

Toast (NYSE:TOST) had its target price increased by The Goldman Sachs Group from $26.00 to $29.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 29.29% from the stock’s current price.

TOST has been the subject of several other research reports. Piper Sandler lifted their price objective on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Keefe, Bruyette & Woods began coverage on shares of Toast in a research note on Tuesday, April 9th. They issued a “market perform” rating and a $25.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 price objective on shares of Toast in a research report on Thursday, April 11th. Robert W. Baird lifted their price objective on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Mizuho reissued a “neutral” rating and issued a $17.00 target price on shares of Toast in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.32.

Toast Stock Performance

Shares of TOST opened at $22.43 on Monday. The company’s 50-day simple moving average is $22.89 and its 200-day simple moving average is $18.96. Toast has a 1 year low of $13.77 and a 1 year high of $27.00. The stock has a market capitalization of $9.80 billion, a PE ratio of -43.98 and a beta of 1.79.

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

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 2,272 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the transaction, the president now owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Stephen Fredette sold 2,272 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the sale, the president now directly owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the transaction, the executive now owns 22,956 shares in the company, valued at $579,409.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 363,688 shares of company stock worth $7,499,141. 13.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Baystate Wealth Management LLC acquired a new position in Toast during the 3rd quarter worth approximately $29,000. BluePath Capital Management LLC acquired a new position in Toast during the third quarter worth $30,000. Principal Securities Inc. acquired a new position in Toast during the fourth quarter worth $30,000. Cape Investment Advisory Inc. purchased a new position in Toast in the fourth quarter worth $31,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Toast by 277.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after acquiring an additional 1,257 shares during the period. 82.91% of the stock is 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.