Toast (NYSE:TOST) Announces Quarterly Earnings Results

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

Toast Stock Performance

Shares of NYSE TOST traded up $0.28 during trading on Friday, hitting $27.10. The company had a trading volume of 905,608 shares, compared to its average volume of 8,199,907. The company has a market cap of $12.23 billion, a P/E ratio of -52.59 and a beta of 1.77. Toast has a 52 week low of $13.77 and a 52 week high of $27.57. The business’s 50-day moving average is $23.79 and its 200 day moving average is $19.62.

Wall Street Analysts Forecast Growth

TOST has been the subject of several research reports. Needham & Company LLC increased their target price on Toast from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho upped their price objective on Toast from $17.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird increased their price target on Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. The Goldman Sachs Group increased their price target on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Evercore ISI began coverage on Toast in a research note on Monday, March 4th. They set an “outperform” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.80.

Insider Activity

In other Toast news, CFO Elena Gomez sold 12,500 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Elena Gomez sold 12,500 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 176,980 shares in the company, valued at $4,670,502.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were 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 of the company’s stock, valued at approximately $579,409.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,010 shares of company stock worth $4,711,760. 13.32% of the stock is owned by corporate 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.