Toast should offer ‘solid’ 2024 guidance, says DA Davidson

DA Davidson keeps a Buy rating and $21 price target on Toast ahead of its Q4 results next week. The company will likely meet or modestly exceed the firm’s forecasts, while its outlook should bracket DA Davidson’s forecasts and consensus, the analyst tells investors in a research note. The firm adds that it will be looking for the management to provide more details on plans to move further up-market as well as expand the total addressable market beyond the restaurant space.