Toast (NYSE:TOST) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Toast (NYSE:TOST) released its earnings results 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 net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion.

Toast Stock Performance

Shares of TOST traded down $2.03 during mid-day trading on Friday, reaching $38.24. 1,389,805 shares of the company were exchanged, compared to its average volume of 5,921,315. The stock has a market capitalization of $18.01 billion, a PE ratio of -3,819.88, a PEG ratio of 2.16 and a beta of 1.98. The business has a 50 day simple moving average of $38.60 and a two-hundred day simple moving average of $33.35. Toast has a 52 week low of $20.57 and a 52 week high of $44.12.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value 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. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Yuan sold 189,785 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now owns 198,829 shares in the company, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 339,564 shares of company stock worth $13,577,845. 13.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TOST. Wedbush raised their target price on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods lifted their target price on shares of Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday. Morgan Stanley raised their price target on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets boosted their price target on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Toast currently has an average rating of “Hold” and an average target price of $40.23.

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.