Toast Stock Heats Up After Beat-and-Raise

TOST is headed for two straight days of double-digit gains

Deputy Editor
Nov 11, 2022 at 9:04 AM
facebook X logo linkedin


Toast Inc (NYSE:TOSTcould be one of the big winners this Friday, after the company reported slimmer-than-expected losses of 3 cents per share and better-than-expected revenue of $752 million for the third quarter. The encouraging results lead restaurant software firm -- which was recently a bullish pick by Schaeffer's Senior Market Strategist Chris Prybal -- to hike its full-year revenue guidance. 

Toast stock was last seen 11.3% higher to trade at $22.25 before the bell. This positive price action follows yesterday's pop of 13.4%, and is likely to see TOST fill last week's broad market bear gap. Heading into today, the shares were down 42% in 2022.

At least three analysts hiked their price targets following the results, with Credit Suisse, Needham, and Wells Fargo adjusting up to $21.50, $32, and $27, respectively. Coming into today, five of the 12 brokerages covering TOST held "hold" or "strong sell" ratings, so there was upgrade potential looming.

Options traders could begin unwinding their pessimism, as they've favored puts recently. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Toast stock sports a 10-day put/call volume ratio of 1.69 that sits higher than all but 6% of readings from the past year. Echoing this, TOST's Schaeffer's put/call open interest ratio (SOIR) of 0.7 stands 84% higher than all other annual readings.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI