Toast initiated with a Peer Perform at Wolfe Research

Wolfe Research analyst Darrin Peller initiated coverage of Toast with a Peer Perform rating without a price target. The analyst sees Toast as a "best-in-class" restaurant point of sale software provider that should see "sustainable industry leading" growth. That said, in the backdrop of upcoming macro headwinds combined with a premium valuation and little profitability, a neutral rating is warranted, Peller tells investors in a research note.