Toast price target raised to $27 from $23 at Piper Sandler

Piper Sandler analyst Clarke Jeffries raised the firm’s price target on Toast to $27 from $23 and keeps an Overweight rating on the shares. Toast reported several key milestones in quarter, including crossing $1B in annual recurring revenue and reaching positive adjusted EBITDA, the analyst tells investors in a research note. The firm says Toast’s execution on location growth and fintech growth leaves it bullish.