UBS raised the firm’s price target on Toast (TOST) to $47 from $41 and keeps a Buy rating on the shares. Toast delivered beats across gross payment volume, recurring gross profit, and adjusted EBITDA, supported by better GPV per location, annual recurring revenue conversion, and FinTech pricing, the analyst tells investors in a research note. The firm continues to believe that Toast is set to benefit from a combination of FinTech pricing and a degree of complementary SaaS pricing going forward.
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