Toast (NYSE:TOST) Posts Quarterly Earnings Results, Meets Estimates

Toast (NYSE:TOST) announced its earnings results on Tuesday. The company reported ($0.15) EPS for the quarter, hitting 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 company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned ($0.16) earnings per share. The business’s revenue for the quarter was up 31.3% on a year-over-year basis.

Toast Stock Performance

Shares of Toast stock traded up $2.55 on Wednesday, reaching $26.28. 15,167,953 shares of the company’s stock were exchanged, compared to its average volume of 8,097,388. The company has a market capitalization of $11.86 billion, a P/E ratio of -52.49 and a beta of 1.77. Toast has a 52 week low of $13.77 and a 52 week high of $27.31. The firm’s 50-day moving average is $23.63 and its two-hundred day moving average is $19.52.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. 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. Robert W. Baird increased their price target on shares of Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Mizuho restated a “neutral” rating and issued a $17.00 target price on shares of Toast in a research report on Wednesday, March 27th. Wells Fargo & Company raised their target price on shares of Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 target price on shares of Toast in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average price target of $25.00.

Insider Activity

In related news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total value 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 approximately $579,409.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction dated 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 transaction, the executive now directly owns 22,956 shares in the company, valued at $579,409.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Michael Matlock sold 1,205 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $28,197.00. Following the completion of the sale, the insider now owns 40,954 shares in the company, valued at approximately $958,323.60. The disclosure for this sale can be found here. Insiders sold 180,510 shares of company stock worth $4,381,885 in the last quarter. 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.