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 report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on TOST. Redburn Atlantic upgraded Toast from a neutral rating to a buy rating and set a $28.00 target price on the stock in a report on Wednesday, February 7th. BNP Paribas upgraded Toast from a neutral rating to an outperform rating and set a $30.00 price objective on the stock in a report on Thursday, March 7th. Keefe, Bruyette & Woods assumed coverage on Toast in a report on Tuesday, April 9th. They issued a market perform rating and a $25.00 price objective on the stock. UBS Group increased their price objective on Toast from $22.00 to $31.00 and gave the stock a buy rating in a report on Thursday, March 28th. Finally, Piper Sandler increased their price objective on Toast from $18.00 to $20.00 and gave the stock a neutral rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Toast has an average rating of Hold and a consensus price target of $24.32.

Toast Price Performance

Shares of TOST opened at $22.51 on Monday. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of -44.13 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 business’s 50-day moving average is $22.81 and its 200-day moving average is $18.93.

Toast (NYSE:TOST) last issued its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. Equities research analysts expect that Toast will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 224,900 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $18.37, for a total value of $4,131,413.00. Following the completion of the sale, the general counsel now directly owns 160,340 shares in the company, valued at $2,945,445.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the transaction, the executive now owns 22,956 shares in the company, valued at $579,409.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 224,900 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $18.37, for a total value of $4,131,413.00. Following the transaction, the general counsel now owns 160,340 shares in the company, valued at approximately $2,945,445.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 363,688 shares of company stock worth $7,499,141. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. Raymond James & Associates boosted its holdings in Toast by 115.4% during the first quarter. Raymond James & Associates now owns 24,946 shares of the company’s stock worth $542,000 after buying an additional 13,364 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Toast by 78.2% during the first quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock worth $616,000 after buying an additional 12,446 shares during the last quarter. Citigroup Inc. bought a new position in shares of Toast during the 1st quarter valued at about $438,000. Ergoteles LLC bought a new position in shares of Toast during the 1st quarter valued at about $2,427,000. Finally, First Trust Advisors LP bought a new position in shares of Toast during the 1st quarter valued at about $33,356,000. Institutional investors 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.