Toast (NYSE:TOST) Posts Quarterly Earnings Results, Hits Expectations

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

Toast Trading Up 11.5 %

TOST stock traded up $2.74 during midday trading on Wednesday, reaching $26.47. 14,640,725 shares of the company’s stock traded hands, compared to its average volume of 8,088,284. Toast has a 52-week low of $13.77 and a 52-week high of $27.31. The stock has a market cap of $11.95 billion, a P/E ratio of -52.49 and a beta of 1.77. The stock’s 50-day moving average is $23.63 and its 200 day moving average is $19.52.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Redburn Atlantic upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, February 7th. Piper Sandler lifted their target price on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Evercore ISI started coverage on shares of Toast in a report on Monday, March 4th. They issued an “outperform” rating and a $32.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on shares of Toast from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.00.

Insider Buying and Selling at Toast

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction that occurred 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 directly owns 22,956 shares of the company’s stock, valued at $579,409.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction that occurred 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 directly owns 22,956 shares of the company’s stock, valued at $579,409.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Stephen Fredette sold 2,272 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the completion of the transaction, the president now owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,510 shares of company stock valued at $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.