The Goldman Sachs Group Has Lowered Expectations for Toast (NYSE:TOST) Stock Price

by · The Markets Daily

Toast (NYSE:TOST – Free Report) had its price target reduced 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 commented on TOST. BMO Capital Markets started coverage on Toast in a research report on Monday, January 6th. They set an “outperform” rating and a $45.00 price target on the stock. Morgan Stanley raised their target price on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods upped their price target on shares of Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, December 9th. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned 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.

Check Out Our Latest Stock Report on Toast

Toast Stock Down 4.0 %

TOST opened at $35.72 on Friday. The company 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 cap of $16.82 billion, a P/E ratio of -274.77, a P/E/G ratio of 23.40 and a beta of 1.97. Toast has a 12 month low of $16.13 and a 12 month high of $44.12.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 40,459 shares of Toast stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 1,700,282 shares in the company, valued at approximately $49,376,189.28. The trade was a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher P. Comparato sold 125,000 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $29.21, for a total value of $3,651,250.00. Following the completion of the sale, the director now owns 134,627 shares in the company, valued at approximately $3,932,454.67. This trade represents a 48.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,109,307 shares of company stock valued at $38,235,613. 13.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TOST. ValueAct Holdings L.P. bought a new stake in shares of Toast during the third quarter worth approximately $438,301,000. FMR LLC boosted its stake in Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the period. Assenagon Asset Management S.A. boosted its stake in Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after purchasing an additional 3,701,893 shares during the period. Marshall Wace LLP grew its holdings in Toast by 175.8% in the 2nd quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after buying an additional 1,604,716 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in Toast by 1,475.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after buying an additional 796,936 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Company Profile

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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.

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