Toast (NYSE:TOST) Issues Quarterly Earnings Results

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

Toast Stock Performance

TOST stock traded up $2.55 during mid-day trading on Wednesday, reaching $26.28. 15,167,953 shares of the stock traded hands, compared to its average volume of 8,097,388. Toast has a one year low of $13.77 and a one year high of $27.31. The stock has a market capitalization of $11.86 billion, a PE ratio of -52.49 and a beta of 1.77. The business has a 50-day moving average price of $23.63 and a two-hundred day moving average price of $19.52.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TOST shares. Needham & Company LLC boosted their target price on shares of Toast from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird boosted their target price on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Evercore ISI started coverage on shares of Toast in a report on Monday, March 4th. They issued an “outperform” rating and a $32.00 target price on the stock. Piper Sandler boosted their target price on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, UBS Group boosted their target price on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Transactions at Toast

In other news, insider James Michael Matlock sold 4,151 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $23.19, for a total value of $96,261.69. Following the transaction, the insider now directly owns 46,510 shares in the company, valued at $1,078,566.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider James Michael Matlock sold 4,151 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $23.19, for a total value of $96,261.69. Following the transaction, the insider now directly owns 46,510 shares in the company, valued at $1,078,566.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the transaction, the executive now owns 25,422 shares in the company, valued at $582,163.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,510 shares of company stock worth $4,381,885. Insiders own 13.32% of the company’s stock.

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.