DA Davidson Lowers Toast Price Target Amid AI Adoption

On February 2, DA Davidson analyst Peter Heckmann lowered Toast, Inc.'s (NYSE:TOST) price target to $36 from $42 and kept a Neutral rating ahead of fourth-quarter results. The firm expects Toast to modestly exceed forecasts while growth and margin expansion moderate; Toast reported surpassing $2 billion ARR in Q3 2025 and strong early adoption of AI tools like Toast IQ.
Scoring Rationale
Company-specific analyst update with solid ARR and AI adoption metrics, limited by narrow scope and single-source reporting.
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