5 New Contenders for S&P 500 Index

In this article, we list the 5 New Contenders for S&P 500 Index. Please visit 10 New Contenders for S&P 500 Index if you would like to see the extended list and the methodology behind it.

5. Toast, Inc. (NYSE:TOST)

Number of Hedge Fund Holders: 68

Toast, Inc. (NYSE:TOST) is one of the 10 new contenders for S&P 500 Index.

On April 21, 2026, Toast, Inc. (NYSE:TOST) announced entering a partnership with Alicart Restaurant Group to power some of the nation’s highest-volume dining destinations, including Carmine’s and Virgil’s Real BBQ. Alicart has been facing extreme scale and needed a platform that could handle it. Accordingly, leveraging the partnership, Alicart uses 20 Toast terminals, including Toast Go® handhelds, in its restaurants to maintain the exceptional speed and hospitality. Kelly Esten, Chief Marketing Officer and Chief Operating Officer of Enterprise, Toast, Inc. (NYSE:TOST), stated:

We are thrilled to provide the human-boosting tech and AI-powered tools they need to stay fast, precise, and focused on the thousands of guests that fill their dining rooms every day.

In a separate event, BMO Capital initiated coverage of Toast, Inc. (NYSE:TOST) with an Outperform rating. The firm has set a target price of $35 on the stock. Toast, Inc. (NYSE:TOST) has long-term potential, supported by distinct and emerging growth drivers, according to the firm’s analyst.

Founded in 2011, Toast, Inc. (NYSE:TOST) is a cloud-based restaurant management software company. Based in Massachusetts, the company offers an all-in-one point of sale (POS) and digital technology platform specifically designed for the hospitality industry.