Toast (NYSE:TOST) Price Target Cut to $40.00 by Analysts at The Goldman Sachs Group

Toast (NYSE:TOST) had its price target lowered by The Goldman Sachs Group from $45.00 to $40.00 in a report published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Wedbush upped their price target on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Wednesday, November 20th. Compass Point began coverage on Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target on the stock. BMO Capital Markets assumed coverage on Toast in a research report on Monday, January 6th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.05.

Toast Trading Down 4.0 %

Shares of Toast stock opened at $35.72 on Friday. Toast has a 1-year low of $16.13 and a 1-year high of $44.12. The firm has a fifty day simple moving average of $38.43 and a 200-day simple moving average of $30.50. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of -274.77, a PEG ratio of 23.40 and a beta of 1.97.

Insider Activity

In other news, Director Christopher P. Comparato sold 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $29.21, for a total transaction of $3,651,250.00. Following the completion of the sale, the director now owns 134,627 shares of the company’s stock, valued at approximately $3,932,454.67. This trade represents a 48.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Stephen Fredette sold 40,459 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total value of $1,174,929.36. Following the completion of the transaction, the president now directly owns 1,700,282 shares in the company, valued at $49,376,189.28. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,109,307 shares of company stock worth $38,235,613. Corporate insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

A number of hedge funds and other institutional investors have recently bought and sold shares of TOST. FMR LLC grew its holdings in shares of Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. ValueAct Holdings L.P. acquired a new position in Toast during the 3rd quarter worth about $438,301,000. State Street Corp grew its holdings in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after acquiring an additional 206,789 shares during the last quarter. Geode Capital Management LLC increased its position in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after acquiring an additional 155,212 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after acquiring an additional 3,701,893 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

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.