UPDATE: Needham & Company Starts Toast Inc. (TOST) at Buy

Toast (TOST): New Coverage Leaning Neutral, Best-of-Breed Platform Already Reflected in Valuation

Nine Wall Street research firms have started research coverage on Toast (NYSE: TOST) with analyst ratings mixed.

Five sell-side analysts have started their coverage with a Buy or equivalent rating while 4 are on the sidelines.

The company made its public debut 4 weeks ago when its shares surged 56% in the market debut. Toast initially priced its IPO at $40, above the expected price range of $34 to $36. The Toast stock closed at $62.51 on the first trading day.

Morgan Stanley analyst Josh Baer... More

UPDATE: JPMorgan Starts Toast Inc. (TOST) at Neutral

(Updated - October 18, 2021 5:37 AM EDT)

JPMorgan initiates coverage on Toast Inc. (NYSE: TOST) with a Neutral rating and a price target of $57.00.

The analyst comments "We are initiating coverage of Toast with a Neutral rating and December 2022 price target of $57. Toast has the ingredients to be the... More

UPDATE: Piper Sandler Starts Toast Inc. (TOST) at Overweight

(Updated - October 18, 2021 5:49 AM EDT)

Piper Sandler analyst Brent Bracelin initiates coverage on Toast Inc. (NYSE: TOST) with a Overweight rating and a price target of $63.00.

The analyst comments "TOST has been on a ten-year journey to digitize one of the... More

UPDATE: KeyBanc Starts Toast Inc. (TOST) at Overweight

(Updated - October 18, 2021 4:38 AM EDT)

KeyBanc analyst Josh Beck initiates coverage on Toast Inc. (NYSE: TOST) with a Overweight rating and a price target of $65.00.

The analyst comments "Toast addresses inherent restaurant market complexities (omni-channel, kitchen, etc.) with an end-to-end cloud... More

UPDATE: Morgan Stanley Starts Toast Inc. (TOST) at Equalweight

(Updated - October 18, 2021 5:50 AM EDT)

Morgan Stanley analyst Josh Baer initiates coverage on Toast Inc. (NYSE: TOST) with a Equalweight rating and a price target of $63.00.

The analyst comments "Toast's best-of-breed platform integrates POS hardware, software and payments into an end-to-end Restaurant... More

UPDATE: Goldman Sachs Starts Toast Inc. (TOST) at Neutral

(Updated - October 18, 2021 5:51 AM EDT)

Goldman Sachs analyst Will Nance initiates coverage on Toast Inc. (NYSE: TOST) with a Neutral rating and a price target of $52.00.

The analyst comments "We are launching coverage of Toast (TOST) with a Neutral rating and a $52 12-month price target. We believe TOST offers a best-in-class... More

Mizuho Securities Starts Toast Inc. (TOST) at Neutral

Mizuho Securities analyst Dan Dolev initiates coverage on Toast Inc. (NYSE: TOST) with a Neutral rating and a price target of $43.00.

The analyst comments "Initiate at Neutral, PT $43. Toast is an integrated, digital-first, cloud-based, end-to-end technology platform catering to the restaurant... More