Toast Q3 Review: I'm Booking Profits After The 100%+ YTD Returns
Portfolio Pulse from
Toast's Q3 FY24 earnings report shows strong revenue growth of 26% YoY and adjusted EBITDA growth of 222% YoY, beating estimates. Despite this, the author rates Toast as a 'hold' with a price target of $43, citing a reduced upside after a 100%+ YTD return.
November 08, 2024 | 11:45 am
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Toast reported strong Q3 FY24 earnings with 26% YoY revenue growth and 222% YoY EBITDA growth, beating estimates. The stock is now rated 'hold' with a $43 price target due to reduced upside after significant YTD gains.
Despite strong earnings, the stock is rated 'hold' due to perceived reduced upside after significant YTD gains. This suggests a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100