FY2024 EPS Estimates for Toast, Inc. (NYSE:TOST) Raised by Analyst

Toast, Inc. (NYSE:TOST) – Investment analysts at William Blair increased their FY2024 earnings estimates for Toast in a research note issued to investors on Wednesday, May 8th. William Blair analyst S. Sheldon now expects that the company will post earnings of ($0.19) per share for the year, up from their prior forecast of ($0.22). The consensus estimate for Toast’s current full-year earnings is ($0.22) per share. William Blair also issued estimates for Toast’s FY2025 earnings at $0.19 EPS.

TOST has been the subject of several other reports. Redburn Atlantic raised Toast from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, February 7th. Canaccord Genuity Group lifted their target price on Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group upped their price target on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Needham & Company LLC lifted their price objective on shares of Toast from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BNP Paribas raised shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Toast has a consensus rating of “Hold” and an average price target of $25.80.

Toast Price Performance

Shares of NYSE:TOST opened at $26.82 on Friday. Toast has a 12-month low of $13.77 and a 12-month high of $27.57. The business has a 50 day moving average of $23.79 and a 200-day moving average of $19.62. The stock has a market cap of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. Toast’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) EPS.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 12,500 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Elena Gomez sold 12,500 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.90, for a total value of $1,145,000.00. Following the transaction, the executive now owns 25,422 shares of the company’s stock, valued at $582,163.80. The disclosure for this sale can be found here. Insiders have sold a total of 193,010 shares of company stock worth $4,711,760 in the last ninety days. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Hedge funds have recently bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in Toast by 1.0% during the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after acquiring an additional 436 shares during the period. Wellington Shields & Co. LLC increased its holdings in Toast by 3.1% in the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after purchasing an additional 500 shares in the last quarter. Brown Advisory Inc. lifted its stake in Toast by 2.6% in the third quarter. Brown Advisory Inc. now owns 26,861 shares of the company’s stock valued at $503,000 after buying an additional 675 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Toast by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after buying an additional 774 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Toast by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock worth $2,914,000 after buying an additional 790 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

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.