() experienced a significant increase in short interest during the month of march. On March 31, there were 24,470,000 shorted shares. This is a 43.6% increase from the total of 17,040,000 on March 15. At the moment, 7.8% are short-sold. The short-interest rate is currently 3.7 days based on an average daily share volume of 6,630,000.
Wall Street analysts weigh in
Several research analysts have made comments on TOST. In a research report published on Monday, 9th January, Goldman Sachs Group reduced their Toast target price from $23.00 down to $19.00. They also set the stock's rating as 'neutral. Stephens began covering Toast with a research report on Thursday, April 13, 2013. The stock was given an 'equal-weight' rating with a target price of $18.00. Credit Suisse Group raised their Toast target price from $21.50 up to $23.00 in a research report on Friday, 17th February. The company was also given a neutral rating. Needham & Company LLC lowered Toast's target price from $32.00 down to $30 in a research report on Friday, Feb. 17th. They also gave the stock a 'buy rating'. Sumitomo Mitsui Financial Group, in a Friday, February 17, research note, downgraded Toast's rating from 'outperform to neutral' and decreased the price target from $26.00 up to $23.00. The stock has been rated by nine research analysts as a hold and eight with a buy. The price of the stock fell by $0.21 at midday on Tuesday to $17.56. The company's shares changed hands in 3,359,011 compared to the average volume of 6,312,773. The company has a moving average for the last 50 days of $18.60, and a moving average for the past two hundred days of $19.08. Toast's 12 month low is $11.91 while its 12 month high is $26.03. The company has a $9.25 billion market capitalization, a P/E ratio of -25.45, and a beta value of 1.75.
The company announced its results for the quarter on Thursday, 16th February. The company's ($0.19) per-share earnings for the third quarter fell short of the consensus estimate ($0.18) ($0.01) Toast's negative net margin was 10.03%, and its negative return on equity was 24.30%. The company had revenue of $769.00 millions for the quarter compared to the consensus estimation of $753.13 millions. In the same quarter of the year before, the company had earned (0.46) EPS. Toast's quarterly revenue was up by 50.2% when compared with the same period last year. Analysts at equities firms expect Toast to post a -0.59 per share earnings for the current fiscal year.
Toast Insider Transactions
On Thursday, 19th January, 33,333 of the company stock was sold in a single transaction. Stock was sold for $647,660.19 at an average of $19.43. The chief executive now owns 171,063 stock shares, worth $3,323,754.09. On Monday, 23rd January, 136,364 of the company stock were sold in a single transaction. The stock was bought at an average of $22.14, resulting in a transaction totaling $3,019 098.96. The insider owns directly 3,655,391 of the company's shares, worth $80,930.356.74. Christopher P. Comparato, the CEO of the company, sold 33,333 stock shares in a deal on Thursday, 19th January. The shares were sold for an average of $19.43 and had a total worth of $647.660.19. After the transaction, the CEO now owns 171,063 company shares, worth $3,323,754.09. In the past three months, insiders sold 456,495 company shares valued at $9.807,032. Insiders control 20.16% the stock of their company.
Hedge Funds weigh in on Toast
Recently, several large investors increased or decreased their stakes in the TOST. Raymond James & Associates increased its holdings of Toast by 115.4% during the first quarter. Raymond James & Associates owns 24,946 of the company stock, valued at $542,000, after acquiring 13,364 additional shares during the last quarter. HighTower Advisors LLC increased its holdings of Toast shares by 78.2% during the first quarter. HighTower Advisors LLC owns 28,356 of the company stock, worth $616,000. This is after purchasing an additional 12,446 in the last quarter. Citigroup Inc. purchased a new position of approximately $438,000.00 in shares in Toast during the first quarter. Ergoteles LLC purchased a new share of Toast during the first quarter, valued at approximately $2.427,000. First Trust Advisors LP also acquired a position in Toast shares in the first quarter, worth about $33,356,000. Institutional investors and hedge fund own 50.82% the company's shares.
What To Toast?
Toast, Inc. operates a cloud technology platform that is digital and cloud-based for the restaurant industry. This is available in the United States as well as Ireland. Toast Point of Sale is a hardware device. The company also offers Toast Order & Pay which lets guests order and pay using their mobile devices. Toast Flex can be used to place orders and payments at the counter, but it can also serve as a server, guest kiosk or kitchen display system.
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