RBC Capital analyst Daniel Perlin raised the firm’s price target on Toast (TOST) to $45 from $40 and keeps a Sector Perform rating on the shares. The company delivered a strong quarter but with a nuanced guide as it faces tough comps, particularly in its annual recurring revenue to revenue conversion, the analyst tells investors in a research note. While its Q1 will also be impacted by severe weather, the quarter’s big takeaway is that Toast’s expansion into new markets, particularly international and enterprise, is proving to be successful with a 50% increase in international initial ARPU, RBC adds.
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