Toast Stock Rises on Layoffs, Quarterly Win

Toast Inc (NYSE:TOST) stock is up 15.2% at $22.16 at last check, after the software company beat fourth-quarter expectations and announced it will lay off 550 workers. No fewer than seven brokerages hiked their price objectives in response, including Needham to $26 from $20. Analysts are mostly skeptical toward TOST, with 12 of the 22 still calling it a tepid "hold," while the 12-month consensus target price of $21.74 is still a 1.7% discount to current levels. This means there is still room for additional ...