Toast (NYSE:TOST) Releases Earnings Results, Meets Expectations

Toast (NYSE:TOST) posted its quarterly earnings data on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15), Briefing.com reports. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) EPS.

Toast Trading Up 13.0 %

NYSE TOST opened at $26.82 on Thursday. The firm has a market capitalization of $12.10 billion, a P/E ratio of -52.59 and a beta of 1.77. The firm’s fifty day moving average price is $23.71 and its two-hundred day moving average price is $19.57. Toast has a 1 year low of $13.77 and a 1 year high of $27.31.

Analyst Ratings Changes

TOST has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday. UBS Group upped their target price on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods lifted their price objective on Toast from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday. The Goldman Sachs Group increased their target price on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, BNP Paribas raised Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.80.

Insiders Place Their Bets

In related news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the transaction, the executive now directly owns 22,956 shares of the company’s stock, valued at approximately $579,409.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the completion of the sale, the executive now owns 22,956 shares in the company, valued at $579,409.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 2,272 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the completion of the transaction, the president now directly owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold a total of 180,510 shares of company stock valued at $4,381,885 over the last 90 days. 13.32% of the stock is currently owned by insiders.

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.