Wolfe Research reiterated its "Peerperform" rating on Toast Inc. (NYSE:TOST) on February 9, 2026. The firm simultaneously removed its previous price target.
Wolfe noted that while software-exposed companies face pressure from AI disruption concerns, these fears are likely "overstated" for Toast.
Analysts view the setup heading into the company's fourth-quarter earnings report as favorable. They anticipate "healthy results" against a perceived "lower bar" for the company to clear.
Wolfe adjusted the year-end 2026 fair value range for Toast shares down to $31-$34. The previous range was $40-$44. The upcoming earnings release remains a key focus for the investment community.