The Goldman Sachs Group Reiterates “Neutral” Rating for Toast (NYSE:TOST)

The Goldman Sachs Group reaffirmed their neutral rating on shares of Toast (NYSE:TOST) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage currently has a $45.00 price target on the stock, up from their previous price target of $34.00.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. DA Davidson upped their target price on shares of Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Wedbush upped their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada upped their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, Robert W. Baird upped their target price on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.43.

Toast Price Performance

TOST stock opened at $38.14 on Monday. The stock has a market capitalization of $17.96 billion, a PE ratio of -293.38, a price-to-earnings-growth ratio of 53.99 and a beta of 1.93. The company’s 50-day moving average is $33.89 and its 200-day moving average is $28.06. Toast has a 1 year low of $14.45 and a 1 year high of $44.12.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at approximately $5,404,436.04. This trade represents a 62.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the transaction, the director now directly owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,688,321 shares of company stock valued at $52,160,120 in the last three months. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. D.A. Davidson & CO. boosted its holdings in Toast by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after purchasing an additional 409 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Toast by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after purchasing an additional 421 shares during the period. Private Advisor Group LLC boosted its holdings in Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after purchasing an additional 441 shares during the period. CIBC Asset Management Inc raised its position in shares of Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after buying an additional 448 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares in the last quarter. 82.91% of the stock is 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.