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

Toast (NYSE:TOST - Get Free Report) released its quarterly 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 return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion.

Toast Stock Performance

Shares of NYSE:TOST traded down $2.58 on Friday, reaching $37.68. The company's stock had a trading volume of 9,872,756 shares, compared to its average volume of 6,186,769. Toast has a 52-week low of $20.57 and a 52-week high of $44.12. The company has a market cap of $17.75 billion, a P/E ratio of -3,764.44, a PEG ratio of 2.16 and a beta of 1.98. The company has a 50-day simple moving average of $38.60 and a 200 day simple moving average of $33.44.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 2,052 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the transaction, the chief financial officer now directly owns 160,498 shares of the company's stock, valued at $6,360,535.74. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 1,006 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $39,867.78. Following the completion of the transaction, the executive now directly owns 48,488 shares of the company's stock, valued at $1,921,579.44. The trade was a 2.03 % 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 three months. Corporate insiders own 13.32% of the company's stock.

Analyst Upgrades and Downgrades

TOST has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Wedbush increased their price objective on shares of Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. DA Davidson reissued a "neutral" rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. Finally, UBS Group increased their price objective on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday. One investment 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, the company 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.