Outperforming Cloud Stock Has More Room to Run

Toast Inc (NYSE:TOST) stock gapped higher on Nov. 8 after the fintech company’s earnings beat, taking out half its all-time high at $35. The shares have since continued higher, moving above analysts’ 12-month consensus price target of$38.33, the $40 level, which is home to its 2021 initial public offering (IPO) price, and$41 – a 50% retracement of its all-time high and 2022 low. TOST also took out the $42 level last week, home to peak call open interest (OI) at the December series, and moved on to 52-week ...