Toast gains after raising annual EBITDA forecast
TOST•Toast raises annual adjusted EBITDA forecast
Shares of restaurant point-of-sale and management platform Toast rose 2.9% to $34.7 after the company late Tuesday lifted its adjusted EBITDA forecast to $805 million-$825 million, up from $790 million-$810 million.
The company said the outlook reflects its strategic decision to re-invest the $10 million tariff refund received in Q2.
Toast reported Q2 net income of $154 million, compared with $80 million a year ago.
At least 8 brokerages have raised price targets following the results.
As of the last close, the stock was down 2.1% year to date.
| Brokerage | New PT | Old PT |
|---|---|---|
| Oppenheimer | $38 | $36 |
| BMO | $40 | $35 |
| Wells Fargo | $40 | $36 |
| Barclays | $39 | $35 |
| KBW | $35 | $30 |
| RBC Capital Markets | $36 | $31 |
| Piper Sandler | $39 | $32 |
