Truist Lifts Toast (TOST) PT to $50 from $48, Remains Optimistic for FinTech Sector

Toast Inc. (NYSE:TOST) is one of the best growth stocks to buy and hold for 3 years. On July 22, Truist raised its price target for Toast to $50 from $48, while keeping a Buy rating on the shares. The firm is optimistic for the FinTech sector and expects solid overall earnings results while noting the group’s recent underperformance.

In Q1 2025, Toast reported booking Applebee’s, which marked its largest deal in company history, and added 6,000+ net new locations during the quarter. In that quarter, the Annualized Recurring Run-rate grew 31% year-over-year to $1.7 billion. Toast achieved a net income of $56 million and Adjusted EBITDA of $133 million.

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In Q1, the company experienced a 25% year-over-year increase in total locations, which reached ~140,000. Gross Payment Volume/GPV rose 22% year-over-year to $42.2 billion. In this quarter, Toast also renewed its credit facility, closing a $350 million revolving credit facility, which amends and restates its previous $330 million facility established in 2021. The company also introduced ToastIQ, an intelligence engine designed to enhance restaurant operations.

Toast Inc. (NYSE:TOST) is a cloud-based digital technology platform for the restaurant industry in the US, Ireland, India, and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.