Toast initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Toast (TOST) with an Outperform rating and $46 price target The analyst believes the company’s cloud-based platform should drive continued market share gains through capturing the restaurant industry’s ongoing shift to omni-channel, integrated software. Toast benefits from a large total addressable market in the U.S. and could gain 2% to 2.5% market share annually, the analyst tells investors in a research note. The firm expects the company’s 2025 financial guidance will be conservative, but in line with its medium-term targets, which “investors will welcome.”