Needham analyst Mayank Tandon raised the firm’s price target on Toast to $26 from $20 and keeps a Buy rating on the shares. The company’s Q4 results beat expectations on top and bottom lines amid impressive execution and strong demand for modern restaurant-tech solutions among SMBs, the analyst tells investors in a research note. Given Toast’s strong growth trends and rapidly improving margins, the risk-reward on the stock looks “favorable”, the firm added.
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