TOST is trading at $23.19 (-4.13%), falling sharply after several analyst actions, even as the company announced a major new partnership. Broader market weakness from hot inflation data and Middle East tensions is also contributing to the sell-off.
- Analyst Actions: Rothschild & Co downgraded the stock to Neutral from Buy, citing competitive threats from DoorDash. Separately, Truist Securities lowered its price target to $30 from $36, citing margin concerns. [20, 26]
- Hungry Howie's Partnership: On a positive note, Toast announced it will be the exclusive technology partner for all ~500 Hungry Howie's Pizza locations, a major enterprise win. [21]
- Macro Headwinds: The broader market is down after the April CPI report came in hotter than expected, and geopolitical tensions between the U.S. and Iran continue to weigh on sentiment. [9, 11, 22]