The Goldman Sachs Group Cuts Toast (NYSE:TOST) Price Target to $40.00

Toast (NYSE:TOST) had its price target decreased by analysts at The Goldman Sachs Group from $45.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 12.20% from the company’s current price.

Several other research firms have also recently weighed in on TOST. Stephens raised their price target on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price objective on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Compass Point started coverage on Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Finally, Piper Sandler raised their price objective on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.05.

Toast Stock Performance

NYSE TOST traded down $1.56 during trading hours on Friday, hitting $35.65. The company had a trading volume of 2,382,587 shares, compared to its average volume of 4,274,328. Toast has a 52 week low of $16.13 and a 52 week high of $44.12. The firm has a 50 day simple moving average of $38.43 and a 200 day simple moving average of $30.50. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of -274.23, a PEG ratio of 23.40 and a beta of 1.97.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 40,459 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total transaction of $1,174,929.36. Following the sale, the president now owns 1,700,282 shares of the company’s stock, valued at approximately $49,376,189.28. This trade represents a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the sale, the executive now directly owns 39,834 shares in the company, valued at $1,238,040.72. This trade represents a 3.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,109,307 shares of company stock worth $38,235,613. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

A number of institutional investors have recently modified their holdings of TOST. Makena Capital Management LLC boosted its holdings in Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after buying an additional 19,371 shares during the last quarter. KBC Group NV boosted its holdings in Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after buying an additional 17,106 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after purchasing an additional 155,212 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after purchasing an additional 65,957 shares during the last quarter. Finally, Qsemble Capital Management LP boosted its holdings in shares of Toast by 52.1% during the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after purchasing an additional 23,231 shares during the last quarter. Hedge funds and other 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.