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

Toast (NYSE:TOST)‘s stock had its “neutral” rating restated by equities researchers at The Goldman Sachs Group in a note issued to investors on Monday, Marketbeat reports. They presently have a $45.00 target price on the stock, up from their previous target price of $34.00. The Goldman Sachs Group’s price objective would indicate a potential upside of 6.06% from the stock’s current price.

TOST has been the topic of several other reports. Compass Point assumed coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 target price on the stock. Piper Sandler lifted their target price on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price target on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, DA Davidson increased their price objective on shares of Toast from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.43.

Toast Stock Up 0.1 %

TOST opened at $42.43 on Monday. The company has a market cap of $19.98 billion, a PE ratio of -326.38, a price-to-earnings-growth ratio of 53.99 and a beta of 1.93. Toast has a twelve month low of $14.45 and a twelve month high of $44.12. The company has a 50-day moving average price of $33.67 and a 200 day moving average price of $27.99.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 10,106 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the transaction, the chief executive officer now owns 968,095 shares in the company, valued at approximately $26,883,998.15. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Stephen Fredette sold 101,574 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the sale, the president now owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. This represents a 4.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,688,321 shares of company stock valued at $52,160,120 in the last ninety days. Insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in shares of Toast during the first quarter worth approximately $244,000. Comerica Bank increased its position in shares of Toast by 10.9% in the 1st quarter. Comerica Bank now owns 6,167 shares of the company’s stock worth $154,000 after purchasing an additional 607 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Toast by 33.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 36,483 shares of the company’s stock valued at $880,000 after purchasing an additional 9,140 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Toast by 21.6% during the second quarter. DNB Asset Management AS now owns 56,818 shares of the company’s stock worth $1,464,000 after purchasing an additional 10,097 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast in the second quarter worth about $33,000. 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.