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

Toast (NYSE:TOST - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.15) earnings per share (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 business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the previous year, the company earned ($0.16) earnings per share. The business's revenue for the quarter was up 31.3% compared to the same quarter last year.

Toast Stock Up 13.0 %

TOST stock traded up $3.09 during midday trading on Wednesday, hitting $26.82. The company's stock had a trading volume of 25,112,657 shares, compared to its average volume of 8,205,683. Toast has a 12 month low of $13.77 and a 12 month high of $27.31. The company has a 50 day moving average of $23.63 and a two-hundred day moving average of $19.52. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of -52.90 and a beta of 1.77.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TOST. Wells Fargo & Company upped their price target on Toast from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of Toast from $25.00 to $26.00 and gave the stock a "market perform" rating in a research note on Wednesday. Piper Sandler raised their target price on shares of Toast from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, February 16th. BNP Paribas upgraded Toast from a "neutral" rating to an "outperform" rating and set a $30.00 price objective for the company in a research report on Thursday, March 7th. Finally, Canaccord Genuity Group raised their target price on Toast from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Toast currently has a consensus rating of "Hold" and a consensus price target of $25.35.

Insider Activity

In other news, CRO Jonathan Vassil sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the sale, the executive now directly owns 22,956 shares in the company, valued at approximately $579,409.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CRO Jonathan Vassil sold 100,000 shares of the company's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the transaction, 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 available at this link. Also, CEO Aman Narang sold 2,471 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The disclosure for this sale can be found here. Insiders have sold a total of 180,510 shares of company stock worth $4,381,885 over the last quarter. Insiders own 13.32% 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.