Benzinga -
- Toast, Inc (NYSE: TOST) reported third-quarter FY22 revenue growth of 55% year-on-year to $752 million, beating the consensus of $721.5 million.
- ARR for Q3 was $868 million, up 60% Y/Y.
- Gross Payment Volume (GPV) increased 53% Y/Y to $25.2 billion.
- EPS loss of $(0.19) missed the consensus loss of $(0.09).
- Toast sees Q4 revenue of $730 million - $760 million versus the consensus of $731.3 million.
- Toast raised its FY22 revenue to $2.692 billion - $2.722 billion (up from $2.620 billion - $2.660 billion), above the consensus of $2.66 billion.
- Keybanc analyst Josh Beck maintained an Overweight and raised the price target from $25 to $26.
- Needham analyst Mayank Tandon reiterated a Buy and increased the price target from $27 to $32.
- Wells Fargo (NYSE:WFC) analyst Jeff Cantwell reaffirmed an Overweight and raised the price target from $23 to $27.
- Morgan Stanley (NYSE:MS) analyst Josh Baer maintained an Overweight and boosted the price target from $29 to $30.
- Price Action: TOST shares traded higher by 0.68% at $20.14 on the last check Friday.