Toast Stock Rises on Layoffs, Quarterly Win
TOSTToast(TOST) Schaeffers Research·2024-02-17 01:04

Toast Inc (NYSE:TOST) stock is up 15.2% at 22.16atlastcheck,afterthesoftwarecompanybeatfourthquarterexpectationsandannounceditwilllayoff550workers.Nofewerthansevenbrokerageshikedtheirpriceobjectivesinresponse,includingNeedhamto22.16 at last check, after the software company beat fourth- quarter expectations and announced it will lay off 550 workers. No fewer than seven brokerages hiked their price objectives in response, including Needham to 26 from 20.AnalystsaremostlyskepticaltowardTOST,with12ofthe22stillcallingitatepid"hold,"whilethe12monthconsensustargetpriceof20. Analysts are mostly skeptical toward TOST, with 12 of the 22 still calling it a tepid "hold," while the 12-month consensus target price of 21.74 is still a 1.7% discount to current levels. This means there is still room for additional ...