Toast slides after price target cut at Mizuho

May 17, 2022 11:06 AM ETToast, Inc. (TOST)By: Shweta Agarwal, SA News Editor

Toast (NYSE:TOST) fell 6%, Tuesday, after Mizuho lowered its price target to $18, from prior $19 target.
The revised target price implies a potential upside of 29.5% from the stock's last close.
This comes despite the restaurant sector technology company reporting bottom and top line beats in its first quarter earnings results. For FY 2022, Toast expects its revenue in the range of $2.5B to $2.55B (up from $2.35 to $2.41B) vs. consensus of $2.52B.
Seeking Alpha authors and Wall Street analysts give a Buy to the stock.