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

Toast (NYSE:TOST) issued its quarterly earnings results on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Price Performance

Shares of Toast stock traded down $1.81 during midday trading on Wednesday, reaching $40.10. The company had a trading volume of 14,305,425 shares, compared to its average volume of 5,656,674. The stock has a fifty day moving average price of $38.48 and a 200 day moving average price of $33.12. Toast has a fifty-two week low of $20.49 and a fifty-two week high of $44.12. The firm has a market cap of $18.89 billion, a PE ratio of -308.48, a P/E/G ratio of 2.17 and a beta of 1.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada lifted their price objective on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price target on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company raised 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. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.09.

Insiders Place Their Bets

In related news, General Counsel Brian R. Elworthy sold 653 shares of the firm’s stock in a transaction that occurred 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 owns 209,206 shares of the company’s stock, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 owns 198,829 shares of the company’s stock, 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.

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.