DA Davidson Reiterates Neutral Rating on Toast Inc. (TOST)

DA Davidson analyst Peter Heckmann reiterated a Neutral rating and $40.00 price target on Toast Inc. (NYSE: TOST).

The analyst commented, "Toast reported 1Q results with Non-GAAP FinTech & Subscription gross profit (similar to net revenue) 7% above our forecast and adjusted EBITDA 28% above our forecast. With results, management raised the midpoint of their prior Non-GAAP FinTech & Subscription gross profit guidance range by 2% and the midpoint of the adjusted EBITDA range by 6%. Following the update, we are raising our forecasts. We are maintaining our NEUTRAL rating on Toast and our price target of $40."

For an analyst ratings summary and ratings history on Toast Inc. click here. For more ratings news on Toast Inc. click here.

Shares of Toast Inc. closed at $42.87 yesterday.

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