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

Toast (NYSE:TOST) had its price target upped by The Goldman Sachs Group from $26.00 to $29.00 in a research note issued to investors on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts have also recently commented on the stock. UBS Group raised their price objective on shares of Toast from $22.00 to $31.00 and gave the company a buy rating in a research note on Thursday, March 28th. Piper Sandler raised their price objective on shares of Toast from $18.00 to $20.00 and gave the company a neutral rating in a research note on Friday, February 16th. Royal Bank of Canada reiterated a sector perform rating and issued a $23.00 price objective on shares of Toast in a research note on Thursday, April 11th. Wells Fargo & Company raised their price objective on shares of Toast from $15.00 to $17.00 and gave the company an underweight rating in a research note on Friday. Finally, BNP Paribas upgraded shares of Toast from a neutral rating to an outperform rating and set a $30.00 target price for the company in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $24.32.

Toast Stock Performance

TOST stock opened at $22.51 on Monday. Toast has a one year low of $13.77 and a one year high of $27.00. The stock has a market capitalization of $9.83 billion, a PE ratio of -44.13 and a beta of 1.79. The company has a fifty day moving average of $22.81 and a 200-day moving average of $18.93.

Toast (NYSE:TOST) last announced its quarterly earnings data 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business earned ($0.19) earnings per share. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. Equities analysts forecast that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other news, 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 transaction of $57,821.40. Following the completion of the sale, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CRO Jonathan Vassil sold 2,282 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,398.80. Following the completion of the sale, the executive now directly owns 25,422 shares in the company, valued at $594,874.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 2,471 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the sale, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at $26,078,223.60. The disclosure for this sale can be found here. Insiders sold a total of 363,688 shares of company stock worth $7,499,141 over the last ninety days. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently bought and sold shares of TOST. Arkfeld Wealth Strategies L.L.C. lifted its position in Toast by 171.5% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 112,351 shares of the company’s stock valued at $2,582,000 after buying an additional 70,972 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Toast during the first quarter valued at approximately $37,000. Salem Investment Counselors Inc. acquired a new position in Toast during the first quarter valued at approximately $299,000. Sanders Morris Harris LLC acquired a new position in Toast during the first quarter valued at approximately $224,000. Finally, Wynn Capital LLC acquired a new position in Toast during the first quarter valued at approximately $229,000. 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.