Wall Street analysts expect smooth CEO transition for Toast (TOST)

UBS Takes Toast Inc. (TOST) to Buy on 'limited risk from the appointment of Aman Narang'

(Updated - September 6, 2023 6:10 AM EDT)

UBS analyst Rayna Kumar upgraded Toast Inc. (NYSE: TOST) from Neutral to Buy with a price target of $30.00 (from $25.00).

The analyst comments "We are upgrading Toast to Buy from Neutral and raising our price target to $30 from $25 on improved potential for quarterly net new location adds and margin expansion. Toast remains... More

William Blair Positive on Toast Inc. (TOST) Planned CEO Transition

William Blair analyst Stephen Sheldon reiterated an Outperform rating and {REMOVEPT} price target on Toast Inc. (NYSE: TOST)

The analyst comments "We briefly spoke with Toast after the announcement and believe the CEO transition was part of the companys longer-term succession plan. It is important to note that the IR team said that the leadership transition was not related to the unsuccessful implementation of the $0.99... More

Toast (TOST) Appoints Aman Narang as CEO

Toast (NYSE: TOST), the all-in-one digital technology platform built for restaurants, today announced the appointment of Aman Narang as CEO, effective January 1, 2024. Narang has served as Toasts Co-President since December 2012 and Chief Operating Officer since June 2021. He will take over as CEO from Chris Comparato, who has served as the companys CEO since February 2015, leading Toast through a remarkable period of growth with a focus on profitability and operational excellence. Both Comparato and Narang will remain on the Board.

Since co-founding the company in his basement in 2011 alongside Steve Fredette and... More