Toast (NYSE:TOST) Announces Quarterly Earnings Results

Toast (NYSE:TOST) posted its quarterly earnings data on Tuesday. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04, Briefing.com reports. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share.

Toast Trading Down 6.1 %

NYSE TOST traded down $1.47 during trading on Wednesday, hitting $22.72. 21,832,855 shares of the company traded hands, compared to its average volume of 7,948,435. Toast has a 12 month low of $13.77 and a 12 month high of $27.90. The business has a fifty day simple moving average of $24.74 and a 200 day simple moving average of $23.52. The company has a market capitalization of $10.29 billion, a P/E ratio of -45.44 and a beta of 1.76.

Analyst Ratings Changes

TOST has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 price target on shares of Toast in a research report on Wednesday, May 29th. Wells Fargo & Company raised their target price on Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 8th. Piper Sandler upped their price target on Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. decreased their price objective on Toast from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Toast presently has a consensus rating of “Hold” and an average price target of $27.85.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 3,810 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40. Following the transaction, the president now owns 2,847,315 shares in the company, valued at $73,005,156.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Aman Narang sold 6,355 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $162,942.20. Following the completion of the transaction, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at approximately $28,999,942.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the president now directly owns 2,847,315 shares in the company, valued at approximately $73,005,156.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 368,352 shares of company stock worth $9,381,482. 13.32% of the stock is owned by corporate insiders.

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.