Toast (NYSE:TOST) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Toast (NYSE:TOST - Get Free Report) posted its earnings results on Wednesday. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion.

Toast Stock Performance

NYSE TOST traded down $2.58 during trading on Friday, reaching $37.68. 9,872,756 shares of the company's stock were exchanged, compared to its average volume of 6,186,769. The stock has a market cap of $17.75 billion, a P/E ratio of -3,764.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The company has a 50 day moving average price of $38.60 and a two-hundred day moving average price of $33.44. Toast has a 1 year low of $20.57 and a 1 year high of $44.12.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TOST. BNP Paribas cut Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price objective for the company. in a research note on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on Toast from $25.00 to $30.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. UBS Group lifted their price objective on Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Oppenheimer began coverage on Toast in a research note on Friday, January 24th. They issued an "outperform" rating and a $46.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.23.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction dated 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 of the company's stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the sale, the president now directly owns 1,644,656 shares of the company's stock, valued at $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 339,564 shares of company stock valued at $13,577,845 in the last ninety days. Insiders own 13.32% 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.