TOST is trading down 4.26% to $25.38 after Loop Capital initiated coverage on the stock with a 'Hold' rating and a $26 price target. The new rating suggests limited near-term upside from its previous closing price.
- Loop Capital initiated coverage on Toast on March 31, citing concerns about the company's elevated valuation multiple compared to peers and moderating growth.
- The firm set a price target of $26.00, indicating a potential downside from the stock's previous close of $26.51.
- The stock's decline comes despite a broader market rally fueled by optimism over a potential de-escalation in the U.S.-Iran conflict.