Toast, Inc. (NYSE:TOST) to Post FY2024 Earnings of ($0.19) Per Share, William Blair Forecasts

Toast, Inc. (NYSE:TOST - Free Report) - Stock analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for Toast in a note issued to investors on Wednesday, May 8th. William Blair analyst S. Sheldon now forecasts that the company will post earnings per share of ($0.19) for the year, up from their previous forecast of ($0.22). The consensus estimate for Toast's current full-year earnings is ($0.22) per share. William Blair also issued estimates for Toast's FY2025 earnings at $0.19 EPS.

A number of other equities research analysts have also recently weighed in on TOST. Redburn Atlantic upgraded shares of Toast from a "neutral" rating to a "buy" rating and set a $28.00 price objective on the stock in a research note on Wednesday, February 7th. Canaccord Genuity Group upped their price target on shares of Toast from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on shares of Toast from $23.00 to $27.00 and gave the company a "sector perform" rating in a research note on Wednesday. BNP Paribas upgraded Toast from a "neutral" rating to an "outperform" rating and set a $30.00 target price for the company in a research report on Thursday, March 7th. Finally, Needham & Company LLC boosted their price objective on Toast from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $25.80.

Toast Stock Up 0.1 %

Toast stock traded up $0.02 during mid-day trading on Friday, hitting $26.84. 6,740,103 shares of the company's stock traded hands, compared to its average volume of 5,692,604. Toast has a one year low of $13.77 and a one year high of $27.57. The company has a market cap of $12.11 billion, a PE ratio of -52.63 and a beta of 1.77. The firm has a 50 day moving average price of $23.86 and a 200 day moving average price of $19.69.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.15). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. Toast's revenue was up 31.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) EPS.

Insider Activity

In other Toast news, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now owns 176,980 shares of the company's stock, valued at approximately $4,670,502.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Stephen Fredette sold 2,272 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the transaction, the president now owns 2,835,759 shares of the company's stock, valued at $66,356,760.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Elena Gomez sold 12,500 shares of the business's stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 176,980 shares of the company's stock, valued at $4,670,502.20. The disclosure for this sale can be found here. Insiders sold 193,010 shares of company stock worth $4,711,760 over the last quarter. Corporate insiders own 13.32% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. increased its position in Toast by 105.0% during the third quarter. Sei Investments Co. now owns 691,018 shares of the company's stock worth $12,943,000 after buying an additional 353,903 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Toast by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company's stock valued at $657,032,000 after acquiring an additional 3,494,579 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Toast by 101.5% in the 4th quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company's stock valued at $42,829,000 after acquiring an additional 1,181,409 shares in the last quarter. International Assets Investment Management LLC boosted its position in Toast by 1,542.9% during the fourth quarter. International Assets Investment Management LLC now owns 57,336 shares of the company's stock worth $1,047,000 after purchasing an additional 53,846 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in Toast during the third quarter valued at approximately $936,000. Institutional investors own 82.91% of the company's stock.

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.