Key Points
- CFO Elena Gomez sold 11,886 Toast shares at an average price of $29.35, generating $348,854.10. The sale was made to cover tax withholding from vested equity awards, leaving her with 171,957 shares.
- Toast reported quarterly revenue of $1.91 billion, up 23.1% year over year and above estimates, but EPS of $0.26 missed the $0.32 consensus forecast.
- Analyst sentiment remains mixed: Toast has a “Moderate Buy” consensus rating and a $39.12 average price target, although several firms recently downgraded the stock to “Hold.”
Toast, Inc. (NYSE:TOST - Get Free Report) General Counsel Brian Elworthy sold 6,507 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $190,980.45. Following the sale, the general counsel directly owned 204,023 shares of the company's stock, valued at approximately $5,988,075.05. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Toast Stock Performance
NYSE TOST opened at $30.08 on Tuesday. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of 38.56 and a beta of 1.74. Toast, Inc. has a one year low of $22.26 and a one year high of $39.72. The company's 50 day moving average price is $33.04 and its 200 day moving average price is $28.98.
Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Toast's quarterly revenue was up 23.1% compared to the same quarter last year. Sell-side analysts forecast that Toast, Inc. will post 1 EPS for the current fiscal year.
Institutional Investors Weigh In On Toast
Large investors have recently added to or reduced their stakes in the company. Bayban purchased a new stake in Toast during the 4th quarter worth $25,000. SHP Wealth Management purchased a new position in Toast in the 4th quarter valued at about $29,000. Ancora Advisors LLC acquired a new stake in shares of Toast during the second quarter valued at about $31,000. Montag A & Associates Inc. grew its stake in shares of Toast by 172.0% during the first quarter. Montag A & Associates Inc. now owns 1,455 shares of the company's stock valued at $39,000 after acquiring an additional 920 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Toast by 213.6% during the second quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company's stock worth $44,000 after acquiring an additional 1,068 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on TOST shares. Sanford C. Bernstein increased their price target on Toast from $39.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Citigroup boosted their price objective on Toast from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Zacks Research downgraded Toast from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. BMO Capital Markets upped their target price on Toast from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $40.00 target price on Toast in a research note on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $39.12.
View Our Latest Analysis on Toast
Key Stories Impacting Toast
Here are the key news stories impacting Toast this week:
- Neutral Sentiment: Five senior executives—including CEO Aman Narang, CFO Elena Gomez, CRO Jonathan Vassil, President Stephen Fredette and General Counsel Brian Elworthy—sold a combined 55,939 shares worth approximately $1.65 million. Each filing states the shares were sold under a pre-arranged Rule 10b5-1 plan or to cover tax-withholding obligations tied to equity vesting, limiting the bearish significance of the transactions. Jonathan Vassil Form 4 Brian Elworthy Form 4 Aman Narang Form 4
- Negative Sentiment: Wall Street Zen downgraded Toast to Hold from a more favorable rating. The change may pressure the stock by reinforcing caution around Toast’s valuation and future upside, particularly after the company’s latest quarterly EPS missed consensus despite revenue exceeding estimates. Wall Street Zen Downgrades Toast to Hold
Toast Company Profile
(
Get Free Report)
Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.
The company's products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.
Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.
Further Reading
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