Piper Sandler Assumes Coverage with Overweight Rating for Toast Inc. (TOST)

Toast Inc. (NYSE:TOST) is one of the 10 best payment processing stocks to buy now.

On June 11, Billy Fitzsimmons from Piper Sandler set a price target of $32 while assuming an Overweight rating on Toast Inc. (NYSE:TOST). The estimate leads to a target price of almost 29% at the prevailing level.

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The analyst believes that there is “room left to run” for the company within its primary restaurant markets. Fitzsimmons also added that Toast’s strategy of entering new markets is likely to offer support to its long-term growth.

Back in mid-May, Toast Inc. (NYSE:TOST) announced that its enterprise technology suite would be implemented across Hungry Howie’s entire footprint of approximately 500 restaurant locations. Hungry Howie’s represents the second enterprise pizza brand to select the technology platform this year, joining a variety of other pizza customers.

The platform is designed to support high-volume operations, while its partner ecosystem, which features integration partners such as Cartwheel and Stream, enables operators to build a customized technological infrastructure aimed at ensuring smooth business operations and maintaining staff and guest satisfaction.

Toast Inc. (NYSE:TOST) operates within the restaurant industry, providing SaaS through its cloud-based digital platform. It covers various functions of a restaurant, such as vendor management, online orders, kitchen display system, payroll management, supply chain, and more.

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