lambert
Nov 11, 5:09 PM
$TOST Bernstein downgraded Toast today, November 11, from Outperform to Market Perform, cutting its price target from
$45 to
$38. Its argument is that the AI-beneficiary thesis has largely played out, while competition, the cost of growth, and the CFO's departure warrant more caution.
Yahoo Finance+1
That is a change in the investment outlook, not necessarily a change in the underlying business. Toast's latest reported quarter still showed strong operating growth, including 8,500 net new locations and a 28.3% increase in subscription and fintech gross profit.
GuruFocus
1 replies