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Toast (NYSE:TOST) Inc stock reached a 52-week high of $45.88, marking a significant milestone for the company. With an average daily trading volume of 7.22 million shares and a substantial market capitalization of $25.91 billion, Toast has established itself as a notable player in the tech sector. According to InvestingPro analysis, the stock is currently trading slightly above its Fair Value. Over the past year, the stock has experienced a remarkable increase, with a 1-year change of 79.82%, supported by impressive revenue growth of 26.72%. This surge reflects growing investor confidence and positive market sentiment towards the company’s performance and future prospects. InvestingPro has identified 12 additional key investment tips for Toast, available to subscribers. As Toast Inc continues to innovate and expand its market presence, the stock’s upward trajectory highlights its resilience and potential for further growth in the competitive tech industry.
In other recent news, Toast Inc. reported impressive first-quarter results that exceeded expectations, prompting a revision in their financial guidance. The company saw a 7% increase in Non-GAAP FinTech & Subscription gross profit and a 28% rise in adjusted EBITDA, leading to an upward adjustment in their forecasts. BMO Capital Markets responded by raising their price target for Toast to $45, citing strong execution and confidence in the company’s business momentum. Similarly, Piper Sandler increased its price target to $37, highlighting Toast’s improved EBITDA margin forecast and success in securing enterprise clients like Topgolf and Applebee’s. Keefe, Bruyette & Woods also raised their price target to $42, acknowledging Toast’s resilience amid macroeconomic challenges and stable consumer trends. Despite these positive developments, DA Davidson maintained a neutral rating with a $40 price target, reflecting cautious optimism. UBS continues to support Toast with a Buy rating and a $47 price target, emphasizing the company’s strong annual recurring revenue growth. These recent developments underscore Toast’s robust performance and strategic advancements in the market.
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