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

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

Toast Stock Up 10.8 %

Toast stock traded up $2.57 during midday trading on Wednesday, hitting $26.30. 15,751,087 shares of the stock were exchanged, compared to its average volume of 8,101,548. Toast has a 52 week low of $13.77 and a 52 week high of $27.31. The stock has a market capitalization of $11.87 billion, a PE ratio of -51.53 and a beta of 1.77. The company has a fifty day simple moving average of $23.63 and a two-hundred day simple moving average of $19.52.

Insider Transactions at Toast

In other news, 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 owns 2,835,759 shares in the company, valued at $66,356,760.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider James Michael Matlock sold 4,151 shares of Toast stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $23.19, for a total transaction of $96,261.69. Following the completion of the transaction, the insider now directly owns 46,510 shares in the company, valued at approximately $1,078,566.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction 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 sale, the president now directly owns 2,835,759 shares of the company’s stock, 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 owned by company insiders.

Analyst Ratings Changes

TOST has been the topic of a number of analyst reports. 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 note on Thursday, March 28th. Wells Fargo & Company boosted their target price on shares of Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday. Redburn Atlantic upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday, February 7th. BNP Paribas upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Thursday, March 7th. Finally, Mizuho reaffirmed a “neutral” rating and set a $17.00 price objective on shares of Toast in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.15.

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.