Toast (NYSE:TOST) Price Target Lowered to $31.00 at The Goldman Sachs Group

Toast (NYSE:TOST) had its price objective trimmed by The Goldman Sachs Group from $43.00 to $31.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also recently commented on the company. Sanford C. Bernstein set a $39.00 target price on Toast in a report on Monday. Royal Bank Of Canada set a $45.00 price target on shares of Toast in a research report on Wednesday, November 5th. Mizuho lowered their price objective on shares of Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday. DA Davidson reduced their target price on shares of Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group set a $35.00 price target on shares of Toast in a research note on Friday. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.71.

Toast Stock Up 1.1%

NYSE:TOST opened at $27.62 on Tuesday. The firm has a market cap of $16.24 billion, a PE ratio of 51.15 and a beta of 1.93. Toast has a 12 month low of $25.91 and a 12 month high of $49.66. The company’s 50-day moving average price is $33.27 and its two-hundred day moving average price is $36.83.

Toast (NYSE:TOST) last posted its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.86%. The business’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. On average, research analysts expect that Toast will post 0.39 EPS for the current fiscal year.

Toast announced that its board has approved a share repurchase program on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 6,672 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $229,383.36. Following the transaction, the chief financial officer owned 162,153 shares in the company, valued at approximately $5,574,820.14. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 4,866 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $167,293.08. Following the transaction, the president owned 910,606 shares of the company’s stock, valued at $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,856 shares of company stock worth $3,540,449 over the last 90 days. 12.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TOST. Allianz Asset Management GmbH lifted its position in Toast by 322.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock worth $13,245,000 after buying an additional 276,803 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of Toast in the second quarter valued at about $1,329,000. Candriam S.C.A. raised its holdings in Toast by 10.9% during the third quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock worth $21,986,000 after acquiring an additional 59,045 shares in the last quarter. Nordea Investment Management AB raised its holdings in Toast by 49.5% during the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock worth $4,988,000 after acquiring an additional 45,898 shares in the last quarter. Finally, Reliant Investment Partners LLC acquired a new position in Toast during the second quarter valued at approximately $472,000. Institutional investors own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.