ToastTOST
About: Toast is a US-based restaurant technology company that provides point-of-sale, payment processing, and various software services to 134,000 restaurant locations across the United States as of December 2024. The firm generates sales from software subscription fees, as a percentage take rate from each financial transaction it processes, from loan origination and servicing fees from its Toast Capital arm, and from hardware installation and professional services. Unlike competitors, Toast intermediates every payment transaction on its platform; it processed some $159 billion in gross platform volume in 2024. The firm's product offerings span point-of-sale systems, inventory and payroll management, delivery integration, e-commerce ordering, reservation management, and loyalty programs.
Employees: 5,700
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
62% more repeat investments, than reductions
Existing positions increased: 271 | Existing positions reduced: 167
37% more first-time investments, than exits
New positions opened: 108 | Existing positions closed: 79
30% more call options, than puts
Call options by funds: $440M | Put options by funds: $338M
2% more funds holding
Funds holding: 621 [Q4 2024] → 636 (+15) [Q1 2025]
3.99% less ownership
Funds ownership: 88.38% [Q4 2024] → 84.39% (-3.99%) [Q1 2025]
9% less capital invested
Capital invested by funds: $15.2B [Q4 2024] → $13.8B (-$1.33B) [Q1 2025]
19% less funds holding in top 10
Funds holding in top 10: 16 [Q4 2024] → 13 (-3) [Q1 2025]
Research analyst outlook
15 Wall Street Analysts provided 1 year price targets over the past 3 months
15 analyst ratings
BMO Capital Rufus Hone | 2%upside $45 | Outperform Maintained | 12 May 2025 |
Morgan Stanley Josh Baer | 13%upside $50 | Overweight Maintained | 9 May 2025 |
Wells Fargo Andrew Bauch | 4%upside $46 | Overweight Maintained | 9 May 2025 |
Piper Sandler Clarke Jeffries | 16%downside $37 | Neutral Maintained | 9 May 2025 |
DA Davidson Peter Heckmann | 9%downside $40 | Neutral Maintained | 30 Apr 2025 |
Financial journalist opinion
Based on 22 articles about TOST published over the past 30 days









