Toast (NYSE:TOST) Given New $29.00 Price Target 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 released on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages have also weighed in on TOST. Mizuho reissued a neutral rating and set a $17.00 price objective on shares of Toast in a report on Wednesday, March 27th. Redburn Atlantic raised shares of Toast from a neutral rating to a buy rating and set a $28.00 price objective for the company in a report on Wednesday, February 7th. Robert W. Baird raised their price objective on shares of Toast from $24.00 to $28.00 and gave the stock an outperform rating in a report on Monday. Piper Sandler lifted their price target on shares of Toast from $18.00 to $20.00 and gave the company a neutral rating in a report on Friday, February 16th. Finally, BNP Paribas raised shares of Toast from a neutral rating to an outperform rating and set a $30.00 price target for the company in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $24.32.

Toast Stock Down 2.5 %

NYSE:TOST opened at $22.18 on Monday. The company has a market cap of $9.69 billion, a P/E ratio of -43.49 and a beta of 1.79. Toast has a fifty-two week low of $13.77 and a fifty-two week high of $27.00. The firm’s 50 day moving average is $23.03 and its two-hundred day moving average is $19.01.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. Toast’s revenue was up 34.7% on a year-over-year basis. Research analysts forecast that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Toast

In other news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the sale, the executive now directly owns 25,422 shares in the company, valued at $582,163.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Toast news, General Counsel Brian R. Elworthy sold 1,481 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $34,655.40. Following the sale, the general counsel now owns 162,883 shares of the company’s stock, valued at approximately $3,811,462.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the sale, the executive now directly owns 25,422 shares in the company, valued at approximately $582,163.80. The disclosure for this sale can be found here. Insiders sold 414,486 shares of company stock worth $8,662,487 over the last ninety days. 13.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Institutional investors and hedge funds have recently bought and sold shares of the business. Altimeter Capital Management LP grew its holdings in shares of Toast by 3,508.4% in the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock worth $3,933,007,000 after purchasing an additional 17,541,796 shares during the last quarter. Morgan Stanley grew its holdings in shares of Toast by 149.3% in the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after purchasing an additional 7,191,595 shares during the last quarter. Blue Owl Capital Holdings LP grew its holdings in shares of Toast by 1,726.0% in the 4th quarter. Blue Owl Capital Holdings LP now owns 5,890,274 shares of the company’s stock worth $107,556,000 after purchasing an additional 5,567,696 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Toast by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock worth $458,348,000 after purchasing an additional 5,232,858 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in shares of Toast in the 2nd quarter worth about $111,554,000. Institutional investors own 82.91% of the company’s stock.

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.