Key Takeaways for Toast Stock as of August 2026
- Three-Month Surge: Toast stock has climbed 52% since early May, closing at $35.32 on August 20 after a record earnings quarter.
- Target Gap Narrows: Toast stock carries 15 buy ratings, 6 outperforms, and 9 holds among 26 analysts, with a mean target of $39 sitting just 9% above the current price, down from a 22% gap two months ago.
- Model Upside: TIKR’s mid-case model values Toast stock at $73 by December 2030, implying 108% total return and 18% annualized over the next 4.4 years.
- Insider Exits: CEO Aman Narang, CFO Elena Gomez, and CRO Jonathan Vassil sold nearly $6.9 million combined in Class A shares between August 3 and August 11, right as the rally peaked.
Why Toast Stock Jumped 52% in Three Months on a Beat-and-Raise Quarter
Toast Inc. (TOST) stock has climbed 52% over the past three months, rising from roughly $23 in early May to close at $35.32 on August 20.
The move traces to a single quarter. On August 4, Toast reported second-quarter revenue of $1.91 billion, up 23% year over year, and net income of $154 million, more than double the $80 million it earned a year earlier. Management raised its full-year adjusted EBITDA guidance to $805 million to $825 million, up from $790 million to $810 million, and lifted its recurring gross profit growth outlook to 23% to 25%.
The quarter’s standout figure was location growth. CEO Aman Narang told analysts on the call, “We had a record 9,500 net location adds in the quarter, 1,000 more than our previous high watermark.” That pace pushed total locations to roughly 180,000, up 22% year over year, and gave the Street its clearest evidence yet that Toast’s push into hotels, sports venues, and retail is adding to its restaurant base rather than pulling resources from it.
At least eight brokerages raised price targets within days of the print, including Wells Fargo and BMO to $40 and Barclays and Piper Sandler to $39.
The rally has also repaired Toast’s forward price-to-sales multiple, which fell from 4.06x next-twelve-months revenue in June 2025 to a low of 2.09x in June 2026 before recovering to 2.51x by August 20, still barely half of where it traded 14 months earlier.
Adyen’s August 10 announcement that it would expand its payments partnership with Toast into the United States, following a July deal with BWH Hotels covering roughly 4,300 properties, added further momentum heading into the back half of the run.
The rally has done real work closing the valuation gap that opened when Toast stock bottomed near $27 in the spring, but it has also compressed how much room the Street’s own targets still see.
Toast’s C-Suite Cashes In as Toast Stock Nears Its Highest Level Since Early 2025
The same window that saw Toast stock climb also saw its top executives sell.
Narang sold 161,948 Class A shares on August 7 and August 10 through a charitable remainder trust, at weighted-average prices of $35.13 and $35.38, worth about $5.73 million.
CFO Elena Gomez sold 17,076 shares on August 5 and August 6 for roughly $603,000, and CRO Jonathan Vassil sold shares tied to option exercises on August 3 and August 11 worth a combined $591,000.
General Counsel Brian Elworthy had already sold $2.8 million in Class A shares in late May.
None of the filings point to a change in the business. But a Street that has only partly caught up to the rally, and a leadership team selling heavily into it, is a combination worth sitting with before chasing the stock higher.
Toast Stock’s Analyst Coverage Rebuilds Its Upside as Targets Chase the Rally
Toast stock carries 15 buy ratings, 6 outperforms, and 9 holds among the 26 analysts publishing price targets as of August 20, with no underperform or sell ratings on the books. The mean target sits at $39, against a stock closing at $35.32, an upside of 9%.
That gap has narrowed sharply since the stock’s spring low. On June 30, Toast closed at $28 while the mean target stood at $34, a 22% gap. By August 20, the price had risen 27% to $35, while the mean target rose just 14% to $39, shrinking the implied upside to 9%.
Coverage also grew, from 25 estimates in June to 26 now. Analysts are raising targets, they simply are not raising them as fast as Toast stock is running.
TIKR’s Model Values Toast Stock at $73, Well Above the Street’s Target
TIKR’s mid-case model values Toast at $73 by December 2030, implying 108% total return from the current price of $35, or 18% annualized over the next 4.4 years.
That return, more than triple the Street’s 9% implied upside, puts Toast stock in a different bucket than the near-term positioning the sell side has settled into.
The model’s longer runway gives Toast’s newer bets, the AI-driven Toast IQ Grow product Narang called the fastest-growing offering the company has ever launched, and expansion into hotels, retail, and sports venues, room to compound ARPU well past what a 26-analyst consensus focused on the next twelve months is pricing in. The insider selling clustered around the current price shows the executive team collecting gains now rather than waiting for that longer curve to play out.
TIKR’s model sees Toast reaching $73 with 108% upside by 2030. Analyze TOST on TIKR for free →
Should You Invest in Toast Inc.?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
