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TOST

Toast Plans To lay Off 10% of its Workforce, As Growth SlowsToast, ( NYSE:TOST ) maker of restaurant management software, stated on Thursday it will lay off 550 employees, about 10% of its workforce. The company also reported fourth-quarter earnings that beat Wall Street’s expectations. Several Tech companies have instituted layoffs in 2024. On Wednesday Cisco ( NASDAQ:CSCO ) said it would eliminate 4,000 jobs as sales declined and clients became even more cautious about spending. Toast’s ( NYSE:TOST ) shares were initially up as much as 16%.88 after hours but then gave back much of the gains. According to the recently published report, the company's earnings per share were a loss of 7 cents per share, which is better than the expected loss of 11 cents per share. The revenue for the quarter was $1.04 billion, which exceeded expectations of $1.02 billion. Toast ( NYSE:TOST ), as per the statement released by the company, saw an increase of nearly 35% in revenue as compared to the previous year. Its net loss of $36 million in the current quarter is an improvement from the $99 million loss in the same quarter last year. The company has allocated $250 million for share buybacks. The pandemic led many restaurants to adopt Toast’s mobile ordering and payment tools, which helped double the company’s revenue. Shares debuted on the New York Stock Exchange in 2021, amid that uptick. Demand has sublimed since then, down from 37% in the third quarter and about 45% in the second quarter. Toast ( NYSE:TOST ) faces increasing competition from the likes of Block, Fiserv, and Shift4, Bank of America analysts wrote in a December note as they reduced their rating on the stock from buy to neutral. Toast’s ( NYSE:TOST ) new layoffs should result in $45 million to $55 million in charges, mostly in the first quarter, and $100 million in annualized savings. Those cuts come weeks after Aman Narang, Toast’s co-founder and COO, replaced Chris Comparato as CEO. Under Comparato’s leadership last summer, Toast ( NYSE:TOST ) began to charged a fee of 99 cents for each online order that totaled more than $10. Consumers and restaurant owners objected, prompting urging the company to eliminate the surcharge.
NYSE:TOSTLong
by DEXWireNews
Long trade in TOSTTOST went public in late 2021 - just in time to get slaughtered in last year's bear market. But the stock is now turning around. I like the late-2021 and 2022 IPO bucket since a lot of these names have not had a chance to shine in a healthy market. Many are trading for a fraction of their IPO price and beginning to shine. TOST is one of them. After nearly doubling off its lows in the middle of last year, TOST began forming a large consolidation base. Notice how the stock respects its 200-day moving average. What was initially resistance has become support after reclaiming the 200-day, and TOST is now breaking out to new 52-week highs. Last week's pullback to the 21-day moving average (blue line) was immediately bought. We are seeing tennis ball action as TOST jumps right back to its highs which is a good sign of support buying. We are seeing the first base breakout in the stock's history which, historically, has led to substantial upside moves in new companies with game-changing products like Toast. NOTE: The company reports earnings on Thursday, 2/16 so I will be keeping exposure light until we see the numbers and how the stock reacts.
NYSE:TOSTLong
by rossgivens
How Low Can Recent IPO Toast (NYSE: $TOST) Go❓Toast, Inc. operates a cloud-based technology platform for the restaurant industry in the United States and Ireland. It 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 that supports NFC, EMV, and MSR payments. The company also provides kitchen display system software that connects the front of the house with the kitchen staff; multi-location management software, which allows customers to manage and standardize their operations and configure menus; xtraCHEF by Toast, a restaurant-specific invoice management software; and Toast Flex for Kitchen, a larger format mountable piece of hardware that can be used as a kitchen screen. In addition, it offers Toast Online Ordering & Toast TakeOut app, a software that connects online channels, point of sale, menu management, and kitchen operations in real-time; First-Party Delivery services for restaurants to manage a fleet of drivers, and customize delivery hours, zones, fees, and minimum ticket sizes; Toast Delivery Services, which enables restaurants to utilize a partner network of delivery drivers; and Toast Delivery Partners services. Further, the company provides loyalty programs and branded gifts; payroll and team management products; business owner policy insurance and restaurant-specific add-ons; payment processing solutions; loans advanced to restaurants; purchase financing; reporting and analytics solutions; Toast Partner Connect that allows customers to discover, select, and connect their restaurant to its partners; and bi-directional APIs. The company was incorporated in 2011 and is headquartered in Boston, Massachusetts.
NYSE:TOST
by Bullishcharts