- 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 analyst Jeff Cantwell reaffirmed an Overweight and raised the price target from $23 to $27.
- Morgan Stanley 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.
US Federal Trade Commission Investigates Drug Shortages Amid Allegations Of Market Manipulation
FTC probes chemotherapy shortages, scrutinizing drug distributors and hospital groups. Root causes of drug shortages under scrutiny. Industry defends practices.
