Toast Price Target Cut by DA Davidson on Trimmed Forecasts After Earnings

DA Davidson lowered its Toast Inc. price target to $33 from $36. The firm maintains a Neutral rating.

Toast released fourth-quarter 2025 results on February 12. Q4 revenue reached $1.63 billion. This slightly exceeded expectations.

Earnings per share reached $0.16. This missed the $0.24 consensus forecast.

DA Davidson trimmed its 2026 and 2027 adjusted EBITDA forecasts by 2%. The revision reflects the company's 2026 guidance and Q4 results.

Needham recently reduced its price target for the company. Bernstein SocGen Group upgraded the stock.