Toast, Inc. to Post Q3 2024 Earnings of $0.01 Per Share, William Blair Forecasts (NYSE:TOST)

Toast, Inc. (NYSE:TOST) – Stock analysts at William Blair issued their Q3 2024 earnings per share estimates for Toast in a research note issued to investors on Wednesday, May 8th. William Blair analyst S. Sheldon expects that the company will post earnings per share of $0.01 for the quarter. The consensus estimate for Toast’s current full-year earnings is ($0.22) per share.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned ($0.16) earnings per share. The business’s revenue was up 31.3% on a year-over-year basis.

A number of other research analysts have also recently weighed in on TOST. Piper Sandler lifted their target price on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Redburn Atlantic raised Toast from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Wednesday, February 7th. BNP Paribas raised Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Thursday, March 7th. Robert W. Baird raised their price objective on Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada raised their price objective on Toast from $23.00 to $27.00 and gave the company a “sector perform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Hold” and an average price target of $25.35.

Toast Trading Up 13.0 %

Shares of Toast stock opened at $26.82 on Thursday. Toast has a twelve month low of $13.77 and a twelve month high of $27.31. The stock has a market capitalization of $12.10 billion, a P/E ratio of -52.59 and a beta of 1.77. The business’s fifty day moving average price is $23.71 and its 200 day moving average price is $19.57.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 2,471 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the transaction, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Toast news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the sale, the chief executive officer now directly owns 1,114,454 shares in the company, valued at $26,078,223.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 1,481 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $34,655.40. Following the completion of the sale, the general counsel now owns 162,883 shares of the company’s stock, valued at $3,811,462.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,510 shares of company stock worth $4,381,885. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TOST. Morgan Stanley increased its holdings in shares of Toast by 149.3% in the third quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after buying an additional 7,191,595 shares in the last quarter. Norges Bank acquired a new stake in Toast during the 4th quarter valued at $76,699,000. Meritage Group LP acquired a new stake in Toast during the 4th quarter valued at $70,270,000. Vanguard Group Inc. raised its stake in Toast by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock valued at $657,032,000 after purchasing an additional 3,494,579 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Toast by 69.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock valued at $120,523,000 after purchasing an additional 2,708,597 shares during the period. Institutional investors own 82.91% of the company’s stock.

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.