Oppenheimer analyst Rayna Kumar lowered the firm’s price target on Toast (TOST) to $36 from $39 and keeps an Outperform rating on the shares. The firm notes Toast reported a solid quarter, with Q1 revenue and adjusted EBITDA exceeding both Oppenheimer’s and Street’s expectations. Location adds also came in above forecasts, and management raised its 2026 financial guidance, reinforcing confidence in the longer-term outlook. The firm believes Q1 results reflected strong execution and continued market share gains.
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