Toast Stock Cools Off After Downgrade
TOSTToast(TOST) schaeffersresearch.com·2024-05-21 22:36

Toast Inc (NYSE:TOST) stock is slipping today, after a downgrade from Baird to "neutral" from "outperform," along with a price target of 28.Thefirmstillseeslong−termgrowthfortherestaurant−basedsoftware−as−a−service(SaaS)name,however,andpredictsfavorableEBITDAmarginexpansion.Atlastglance,TOSTwasdown1.928. The firm still sees long-term growth for the restaurant-based software-as-a- service (SaaS) name, however, and predicts favorable EBITDA margin expansion. At last glance, TOST was down 1.9% to trade at 26.44 -- and earlier fell as low as 25.88.ThisnegativepriceactionhasthestockmovingfurtherfromitsMay16two−yearhighof25.88. This negative price action has the stock moving further from its May 16 two-year high of 27.90. Heading into today, the sh ...