Toast, Inc. to Post FY2023 Earnings of ($0.50) Per Share, DA Davidson Forecasts (NYSE:TOST)

Posted by on Apr 6th, 2023

Toast, Inc. (NYSE:TOST – Get Rating) – DA Davidson issued their FY2023 earnings per share (EPS) estimates for Toast in a research note issued to investors on Monday, April 3rd. DA Davidson analyst P. Heckmann forecasts that the company will post earnings of ($0.50) per share for the year. DA Davidson has a “Buy” rating on the stock. The consensus estimate for Toast’s current full-year earnings is ($0.61) per share.

Toast (NYSE:TOST – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The business had revenue of $769.00 million during the quarter, compared to analyst estimates of $753.13 million. Toast had a negative net margin of 10.03% and a negative return on equity of 24.30%. Toast’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.46) earnings per share.

Several other research firms also recently commented on TOST. Sumitomo Mitsui Financial Group downgraded Toast from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $23.00 in a report on Friday, February 17th. Mizuho decreased their price objective on Toast from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday, February 17th. Piper Sandler boosted their price objective on Toast from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, February 17th. Credit Suisse Group upped their price target on Toast from $21.50 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Finally, BNP Paribas started coverage on Toast in a report on Thursday, March 23rd. They set a “neutral” rating and a $16.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and an average target price of $23.47.

Toast Stock Down 6.8 %

NYSE TOST opened at $16.37 on Wednesday. The company has a market cap of $8.62 billion, a price-to-earnings ratio of -23.72 and a beta of 1.75. Toast has a 52 week low of $11.91 and a 52 week high of $26.03. The business has a 50 day moving average price of $19.64 and a 200-day moving average price of $19.11.

Insider Activity

In other news, CEO Christopher P. Comparato sold 33,333 shares of the company’s stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $19.43, for a total transaction of $647,660.19. Following the transaction, the chief executive officer now owns 171,063 shares of the company’s stock, valued at approximately $3,323,754.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Elena Gomez sold 10,293 shares of the stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $17.59, for a total transaction of $181,053.87. Following the sale, the chief financial officer now owns 117,655 shares of the company’s stock, valued at approximately $2,069,551.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher P. Comparato sold 33,333 shares of the stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $19.43, for a total value of $647,660.19. Following the sale, the chief executive officer now directly owns 171,063 shares in the company, valued at approximately $3,323,754.09. The disclosure for this sale can be found here. Insiders have sold 387,616 shares of company stock valued at $8,563,306 in the last 90 days. Insiders own 20.16% of the company’s stock.

Institutional Trading of Toast

A number of institutional investors have recently added to or reduced their stakes in TOST. PNC Financial Services Group Inc. raised its holdings in shares of Toast by 277.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after acquiring an additional 1,257 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Toast in the 3rd quarter valued at about $45,000. American International Group Inc. purchased a new stake in shares of Toast in the 2nd quarter valued at about $46,000. Seeyond purchased a new stake in shares of Toast in the 4th quarter valued at about $56,000. Finally, Sands Capital Ventures LLC purchased a new stake in shares of Toast in the 4th quarter valued at about $81,000. Hedge funds and other institutional investors own 50.82% of the company’s stock.

Toast Company Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.

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