Toast (NYSE:TOST) Announces Earnings Results

Toast (NYSE:TOST) issued its quarterly earnings data on Tuesday. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04, Briefing.com reports. Toast had a negative return on equity of 11.51% and a negative net margin of 3.10%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned ($0.19) EPS. The business’s quarterly revenue was up 27.0% compared to the same quarter last year.

Toast Price Performance

Shares of Toast stock traded up $0.14 during trading on Friday, hitting $23.54. 2,461,199 shares of the stock were exchanged, compared to its average volume of 7,907,716. The firm’s 50-day moving average price is $24.74 and its 200 day moving average price is $23.52. Toast has a 12-month low of $13.77 and a 12-month high of $27.90.

Analysts Set New Price Targets

TOST has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Toast from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Toast in a research note on Wednesday. Bank of America lowered their target price on shares of Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday. Baird R W cut Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Stephens reissued an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Toast has an average rating of “Hold” and a consensus price target of $27.85.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the transaction, the president now directly owns 2,849,709 shares in the company, valued at $68,393,016. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CRO Jonathan Vassil sold 1,541 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $36,984.00. Following the transaction, the executive now directly owns 33,312 shares of the company’s stock, valued at approximately $799,488. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total value of $27,048.00. Following the sale, the president now directly owns 2,849,709 shares of the company’s stock, valued at approximately $68,393,016. 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 currently owned by insiders.

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.