Analyst Mayank Tandon from Needham reiterated a Buy rating on Toast Inc (TOST – Research Report) and keeping the price target at $50.00.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight Toast Inc’s strong performance and growth potential. Toast Inc reported impressive first-quarter results that surpassed expectations, driven by significant agreements with major clients like Applebee’s and Topgolf. The company is expanding its presence in the US restaurant market, adding over 6,000 locations in the first quarter, while also gaining traction in new verticals and international markets.
Management’s optimistic outlook for the second quarter and the upward revision of the fiscal year 2025 guidance further support the positive sentiment. Tandon believes that the company’s ability to secure enterprise clients, expand its take rate, and leverage innovative technology solutions will contribute to long-term market share gains. Despite a recent 10% increase in share price following the strong results, Tandon maintains a Buy rating with a target price of $50, indicating confidence in Toast Inc’s continued success and market penetration.
In another report released today, Mizuho Securities also reiterated a Buy rating on the stock with a $49.00 price target.