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

DA Davidson analyst Peter Heckmann reiterated a Neutral rating and $38.00 price target on Toast Inc. (NYSE: TOST).

The analyst commented, "For 2025, we are forecasting 25% Y/Y growth in Non-GAAP FinTech & Subscription gross profit to $1,756M (with the consensus at $1,774M), and 37% Y/Y growth in 2025 adjusted EBITDA to $491M (with the consensus at $507M). Our forecasts only include a modest contribution from the Fintech payment processing pricing increases started in September 2024 and we have very little contribution from any benefit from restaurant customers adopting surcharging. We are maintaining our NEUTRAL rating on Toast and our price target of $38, representing an enterprise value of 31-32 times our 2026 adjusted EBITDA forecast of $671M."

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 $41.91 yesterday.

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