Toast cheers up on lifting annual forecast, Q2 rev beat

Toast

09/08/2023 12:49

** Shares of restaurant software firm Toast  TOST.N  up 15%
at $23.25 premarket
    ** Co raises annual rev outlook to $3,810 mln-$3,870 mln, up
from $3,710 mln-$3,800 mln previously; midpoint also above
analysts est. of $3,822 mln- Refinitiv
    ** Also sees Q3 rev of $1,010 mln-$1,040 mln, ahead of
analysts est. of $1,017 mln
    ** Q2 rev grew 45% YoY to $978 mln, also topping analysts
est. of $941.98 mln
    ** Post results, at least three brokerages raise PTs on
stock
    ** Four brokerages rate the stock "strong buy", 6 "buy", 12
"hold" and 1 "sell"; their median PT is $25 - Refinitiv data
    ** As of last close, TOST shares up 12.16% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))