Toast (NYSE:TOST) Stock Rating Reaffirmed by The Goldman Sachs Group

The Goldman Sachs Group reissued their buy rating on shares of Toast (NYSE:TOST) in a report published on Thursday, Benzinga reports. The Goldman Sachs Group currently has a $29.00 price target on the stock.

Several other equities analysts have also commented on the stock. Needham & Company LLC reiterated a buy rating and set a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods restated a market perform rating and issued a $26.00 price objective on shares of Toast in a report on Wednesday, May 29th. Mizuho upgraded Toast from a neutral rating to an outperform rating and lifted their price target for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Baird R W cut shares of Toast from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Finally, Morgan Stanley upped their price objective on shares of Toast from $29.00 to $30.00 and gave the company an overweight rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Toast has an average rating of Moderate Buy and an average price target of $28.22.

Toast Trading Up 0.4 %

Toast stock opened at $26.19 on Thursday. Toast has a 12 month low of $13.77 and a 12 month high of $27.90. The stock has a fifty day simple moving average of $24.87 and a two-hundred day simple moving average of $24.47. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of -52.38 and a beta of 1.75.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm posted ($0.19) EPS. The firm’s revenue was up 27.0% on a year-over-year basis. On average, equities research analysts forecast that Toast will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher P. Comparato sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total value of $2,435,000.00. Following the completion of the sale, the director now owns 120,107 shares of the company’s stock, valued at approximately $2,924,605.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 731,612 shares of company stock worth $18,129,920. Corporate insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of institutional investors and hedge funds have recently made changes to their positions in TOST. West Branch Capital LLC purchased a new position in shares of Toast in the 2nd quarter valued at approximately $26,000. LRI Investments LLC acquired a new position in Toast during the 1st quarter worth approximately $27,000. Principal Securities Inc. purchased a new position in shares of Toast during the 4th quarter worth approximately $30,000. Cape Investment Advisory Inc. acquired a new stake in shares of Toast in the 4th quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast during the second quarter worth $33,000. 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.