Toast (NYSE:TOST) Announces Quarterly Earnings Results

Toast (NYSE:TOST) posted its quarterly earnings data on Wednesday. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01), Zacks reports. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%.

Toast Stock Down 4.3 %

Shares of Toast stock traded down $1.81 during trading on Wednesday, hitting $40.10. 14,305,425 shares of the stock traded hands, compared to its average volume of 5,656,674. The firm’s fifty day moving average is $38.48 and its 200-day moving average is $33.12. Toast has a 52 week low of $20.49 and a 52 week high of $44.12. The stock has a market cap of $18.89 billion, a price-to-earnings ratio of -308.48, a PEG ratio of 2.17 and a beta of 1.98.

Analyst Ratings Changes

Several research firms have weighed in on TOST. The Goldman Sachs Group cut their price objective on Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Piper Sandler upped their price target on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Wedbush increased their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods increased their price objective on Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their target price on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.09.

Insider Buying and Selling

In related news, Director David Yuan sold 189,785 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. This represents a 48.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 339,564 shares of company stock worth $13,577,845 in the last ninety days. 13.32% of the stock is owned by insiders.

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.