Toast's Cloud-Based Platform to Drive Market Share Gains, Oppenheimer Says

MT Newswires Live01-25

Toast's (TOST) cloud-based platform should continue to drive market share gains with a sizeable total addressable market as the restaurant sector shifts to omni-channel, integrated software, Oppenheimer said in a Friday note.

The investment firm said Toast can increase its US market share of about 15% by up to 2.5% per year given its ongoing investments in its core platform and new products. Oppenheimer estimates Toast's US restaurant locations will increase to about 208,000 and international locations to 9,000 by 2027.

Oppenheimer projected the company's Q4 recurring gross profit growth at 37%, with a 25% compound annual growth rate over the next two years

Oppenheimer initiated coverage on Toast with an outperform rating and a price target of $46.

Price: 39.85, Change: -0.15, Percent Change: -0.37

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