Toast (NYSE:TOST) Price Target Raised to $29.00 at The Goldman Sachs Group

Toast (NYSE:TOST) had its target price increased by The Goldman Sachs Group from $26.00 to $29.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the company. BNP Paribas raised Toast from a neutral rating to an outperform rating and set a $30.00 target price on the stock in a research note on Thursday, March 7th. Wells Fargo & Company boosted their price objective on Toast from $15.00 to $17.00 and gave the stock an underweight rating in a research note on Friday, April 12th. UBS Group boosted their price objective on Toast from $22.00 to $31.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Piper Sandler boosted their price objective on Toast from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, February 16th. Finally, Evercore ISI began coverage on Toast in a research report on Monday, March 4th. They set an outperform rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s 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 Price Performance

Shares of Toast stock opened at $22.18 on Monday. The business’s fifty day moving average price is $23.03 and its two-hundred day moving average price is $19.01. The company has a market capitalization of $9.69 billion, a P/E ratio of -43.49 and a beta of 1.79. Toast has a 1-year low of $13.77 and a 1-year high of $27.00.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The firm 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 revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) EPS. On average, research analysts expect that Toast will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the transaction, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the sale, the chief executive officer now directly owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 224,900 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 owns 160,340 shares in the company, valued at $2,945,445.80. The disclosure for this sale can be found here. Insiders sold 414,486 shares of company stock valued at $8,662,487 over the last quarter. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Toast

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Toast by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after buying an additional 1,598,248 shares during the period. Capital International Investors increased its stake in shares of Toast by 9.1% in the 4th quarter. Capital International Investors now owns 29,349,685 shares of the company’s stock valued at $535,925,000 after buying an additional 2,449,778 shares during the period. BlackRock Inc. increased its stake in shares of Toast by 26.7% in the 2nd quarter. BlackRock Inc. now owns 18,546,558 shares of the company’s stock valued at $418,596,000 after buying an additional 3,907,219 shares during the period. Altimeter Capital Management LP increased its stake 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 valued at $3,933,007,000 after buying an additional 17,541,796 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Toast by 34.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,078,912 shares of the company’s stock valued at $293,602,000 after buying an additional 4,130,812 shares during the period. 82.91% of the stock is currently owned by 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.