Toast, Inc. Expected to Earn Q3 2024 Earnings of $0.01 Per Share (NYSE:TOST)

Toast, Inc. (NYSE:TOST - Free Report) - Equities researchers at William Blair issued their Q3 2024 earnings per share (EPS) estimates for Toast in a research note issued to investors on Wednesday, May 8th. William Blair analyst S. Sheldon forecasts that the company will earn $0.01 per share for the quarter. The consensus estimate for Toast's current full-year earnings is ($0.22) per share.

Several other analysts have also recently commented on the company. Redburn Atlantic raised Toast from a "neutral" rating to a "buy" rating and set a $28.00 price target for the company in a report on Wednesday, February 7th. Needham & Company LLC lifted their price target on Toast from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday. Piper Sandler boosted their price objective on shares of Toast from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday. Royal Bank of Canada raised their target price on shares of Toast from $23.00 to $27.00 and gave the company a "sector perform" rating in a report on Wednesday. Finally, Robert W. Baird increased their price target on shares of Toast from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $25.80.

Toast Stock Performance

Toast stock remained flat at $26.82 during trading hours on Thursday. 15,196,707 shares of the company's stock were exchanged, compared to its average volume of 8,284,737. Toast has a 52 week low of $13.77 and a 52 week high of $27.57. The company's 50-day moving average price is $23.71 and its 200 day moving average price is $19.57. The stock has a market capitalization of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). 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 the consensus estimate of $1.04 billion. During the same period last year, the firm posted ($0.16) EPS. Toast's revenue for the quarter was up 31.3% on a year-over-year basis.

Insider Activity

In related news, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the transaction, the executive now owns 25,422 shares of the company's stock, valued at $582,163.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Toast news, insider James Michael Matlock sold 1,205 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $28,197.00. Following the transaction, the insider now owns 40,954 shares of the company's stock, valued at $958,323.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $22.90, for a total value of $1,145,000.00. Following the sale, the executive now owns 25,422 shares in the company, valued at $582,163.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,010 shares of company stock worth $4,711,760. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Several hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC raised its holdings in shares of Toast by 1.0% during the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company's stock valued at $1,080,000 after acquiring an additional 436 shares during the period. Wellington Shields & Co. LLC grew its holdings in shares of Toast by 3.1% during the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company's stock valued at $416,000 after buying an additional 500 shares in the last quarter. Brown Advisory Inc. raised its position in Toast by 2.6% during the third quarter. Brown Advisory Inc. now owns 26,861 shares of the company's stock valued at $503,000 after buying an additional 675 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Toast by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company's stock worth $255,000 after acquiring an additional 774 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Toast by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company's stock valued at $2,914,000 after acquiring an additional 790 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.