Toast (NYSE:TOST) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Toast (NYSE:TOST) announced its earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04, Briefing.com reports. Toast had a negative net margin of 3.10% and a negative return on equity of 11.51%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. Toast’s revenue was up 27.0% compared to the same quarter last year.

Toast Stock Up 0.6 %

NYSE:TOST traded up $0.14 during mid-day trading on Friday, reaching $23.54. The company’s stock had a trading volume of 2,461,199 shares, compared to its average volume of 7,907,716. Toast has a 1 year low of $13.77 and a 1 year high of $27.90. The stock has a fifty day moving average of $24.74 and a 200-day moving average of $23.52.

Wall Street Analyst Weigh In

Several research firms have recently commented on TOST. Keefe, Bruyette & Woods restated a “market perform” rating and set a $26.00 target price on shares of Toast in a research report on Wednesday, May 29th. The Goldman Sachs Group boosted their price target on shares of Toast from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. dropped their target price on Toast from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday. Stephens reiterated an “equal weight” rating and issued a $28.00 target price on shares of Toast in a research note on Thursday, May 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Toast presently has an average rating of “Hold” and a consensus target price of $27.85.

Insider Activity

In other news, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the transaction, the executive now directly owns 26,897 shares of the company’s stock, valued at $693,673.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Toast news, President Stephen Fredette sold 3,810 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $97,688.40. Following the transaction, the president now directly owns 2,847,315 shares of the company’s stock, valued at approximately $73,005,156.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the transaction, the executive now directly owns 26,897 shares in the company, valued at approximately $693,673.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 368,352 shares of company stock worth $9,381,482. 13.32% of the stock is currently owned by company 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.