Toast (NYSE:TOST) Announces Earnings Results

Key Points

• Toast (NYSE:TOST) reported quarterly earnings of $0.13 EPS, missing analysts' estimates of $0.23 EPS, although revenue rose 24.8% year-over-year.
• After the earnings announcement, Toast's stock price declined by 3.0%, trading at $47.81 with a market capitalization of $23.81 billion.
• Analysts generally maintain a positive outlook on Toast, with an average rating of "Moderate Buy" and a consensus price target of $43.42.

Toast (NYSE:TOST - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10), Zacks reports. Toast had a return on equity of 11.01% and a net margin of 3.04%. During the same period in the prior year, the company posted $0.02 EPS. The company's quarterly revenue was up 24.8% on a year-over-year basis.

Toast Stock Down 3.0%

Shares of NYSE:TOST traded down $1.49 during trading on Tuesday, hitting $47.81. The stock had a trading volume of 14,128,709 shares, compared to its average volume of 8,333,251. Toast has a 12-month low of $22.10 and a 12-month high of $49.66. The stock has a market capitalization of $23.81 billion, a price-to-earnings ratio of 205.42 and a beta of 2.01. The stock has a 50-day simple moving average of $44.42 and a two-hundred day simple moving average of $39.79.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TOST shares. Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research report on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Piper Sandler raised their price objective on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Evercore ISI initiated coverage on Toast in a research report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective on the stock. Finally, Truist Financial raised their price objective on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Toast currently has an average rating of "Moderate Buy" and a consensus price target of $43.42.

Insider Transactions at Toast

In related news, Director Paul D. Bell sold 11,000 shares of Toast stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the completion of the transaction, the director directly owned 229,680 shares in the company, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the transaction, the general counsel owned 216,156 shares of the company's stock, valued at approximately $9,208,245.60. This represents a 58.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 466,131 shares of company stock valued at $20,048,851. 13.32% of the stock is owned by company insiders.

Institutional Trading of Toast

An institutional investor recently raised its position in Toast stock. NewEdge Advisors LLC boosted its position in Toast, Inc. (NYSE:TOST - Free Report) by 1,555.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,432 shares of the company's stock after purchasing an additional 16,379 shares during the quarter. NewEdge Advisors LLC's holdings in Toast were worth $578,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 82.91% of the company's stock.

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.

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