TOST - Toast Stock Jumps After Growing Revenue 31% and Raising Guidance. Is It Too Late to Buy the Stock?
2024-05-13 07:45:00 ET
Shares of Toast (NYSE: TOST) soared higher after the restaurant-focused fintech company reported strong first-quarter results and increased its guidance.
With the stock up over 45% year to date, is it too late for investors to jump on board? Let's look at the company's most recent quarterly results, future prospects, and valuation to find the answer.
Toast saw its Q1 revenue climb 31% to $1.08 billion. Subscription revenue jumped 41% to $141 million, while financial technology revenue rose 30%. Its annual recurring revenue (ARR), which consists of its subscription revenue and its fintech gross profits annualized for the entire year, climbed 32% to $1.3 billion.
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Toast Stock Jumps After Growing Revenue 31% and Raising Guidance. Is It Too Late to Buy the Stock?