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How Analysts View Toast?

  • Multiple analysts initiated coverage on Toast Inc (NYSE:TOST) with a mixed opinion regarding the stock’s prospects.
  • Toast is a cloud-based, end-to-end technology platform catering to the entire restaurant community.
  • Goldman Sachs analyst Will Nance initiated coverage with a Neutral rating and a $52 price target, implying a 7.7% downside. 
  • Nance believes Toast offers a “best-in-class” restaurant management software and payments platform and expects the company to continue to take share. 
  • However, he believes the current valuation already reflects the company’s “compelling” growth profile over the medium term.
  • KeyBanc analyst Josh Beck initiated coverage with an Overweight rating and a price target of $65, implying a 15.4% upside.
  • Piper Sandler analyst initiated coverage with an Overweight rating and a price target of $63, implying an 11.9% upside.
  • Mizuho analyst Dan Dolev initiated coverage with a Neutral rating and a $43 price target, implying a 23.6% downside. 
  • Dolev is concerned about the “specter of take-rate pressure,” the company’s “limited” total addressable market, and “more muted” average revenue per user upside, particularly given the stock’s “high” valuation.
  • Needham analyst Mayank Tandon initiated coverage on Toast with a Buy rating and a price target of $70, suggesting a 24.3% upside.
  • JP Morgan initiated coverage on Toast with a Neutral rating and a price target of $57, implying a 1.23% upside.
  • Price Action: TOST shares closed higher by 3.27% at $56.21 on Friday.

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