By otakuyassine3@gmail.com 
Toast (NYSE:TOST – Get Free Report) had its price target decreased by equities research analysts at The Goldman Sachs Group from $43.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 16.33% from the stock’s previous close.
A number of other brokerages have also recently commented on TOST. Wells Fargo & Company raised their price target on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. BNP Paribas set a $37.00 price target on Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group lifted their price objective on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada boosted their target price on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.38.
Read Our Latest Stock Report on Toast
Toast Price Performance
NYSE TOST opened at $32.67 on Wednesday. The company’s fifty day moving average is $37.33 and its two-hundred day moving average is $35.64. Toast has a 52-week low of $21.32 and a 52-week high of $44.12. The firm has a market capitalization of $16.14 billion, a price-to-earnings ratio of -3,263.24, a P/E/G ratio of 2.16 and a beta of 1.99.
Toast (NYSE:TOST – Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, sell-side analysts expect that Toast will post 0.39 earnings per share for the current fiscal year.
Insider Buying and Selling at Toast
In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now directly owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was 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. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 270,770 shares of company stock worth $9,409,211. Insiders own 13.32% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Capital International Investors raised its stake in Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock valued at $1,529,657,000 after acquiring an additional 785,641 shares during the period. FMR LLC lifted its holdings in Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after purchasing an additional 5,403,896 shares during the last quarter. ValueAct Holdings L.P. bought a new position in Toast during the third quarter worth $438,301,000. Finally, State Street Corp raised its position in shares of Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after purchasing an additional 206,789 shares during the period. Institutional investors and hedge funds 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.
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