RBC Capital lowered the firm’s price target on Toast (TOST) to $45 from $50 and keeps a Sector Perform rating on the shares. The company delivered a strong quarter with results that exceeded RBC’s and the Street, along with strong ARR – annual recurring revenue – growth and increased FY25 guidance, which was also signaled to be slightly conservative given the macro risk, the analyst tells investors in a research note. RBC adds that its price target change reflects the quarter’s results, negative FY26 commentary, as well as an uncertain macro.
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