Toast (TOST)
Connects restaurant point of sale, payments, hardware, and operating software.
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Provides a restaurant-and-retail operating platform that combines point of sale, embedded payments, purpose-built hardware, and workflow software. The model connects front-of-house transactions with back-office tools, while customer activity remains closely tied to restaurant operating conditions.
Combines cloud-based point of sale, payments, purpose-built hardware, and operational software for restaurants and retail businesses. The platform also covers digital ordering, delivery, kitchen workflows, marketing, loyalty, payroll, team management, inventory, and financial tools.
Built from restaurant-specific workflows rather than a generic payment terminal, the system connects front-of-house transactions with back-office operations. Acquisitions have added invoice automation, employee scheduling, and drive-through technology, while product teams accelerated off-premise and contactless capabilities during the pandemic.
The operating model pairs software and embedded payments with hardware and related financial technology. Customer activity therefore remains tied to restaurant operating conditions, and product decisions depend on maintaining trust with restaurant operators.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 2, 2026 | BNP Paribas | Downgrade | Target: $40 | Target: $35 |
| Sep 2, 2026 | Exane BNP Paribas | Downgrade | ||
| Aug 31, 2026 | RBC Capital | Reiterate | Rating: —Target: $36 | Target: $44 |
| Aug 12, 2026 | Truist Financial | Target | Target: $33 | Target: $39 |
| Aug 6, 2026 | Bernstein | Reiterate | Rating: —Target: $39 | Target: $45 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.71B · Total debt $0 · Total assets $3.18B · Shareholders' equity $2.05B
- Revenue
- $1.91B
- Operating income
- $152.0M
- Net income
- $154.0M
No dividends on record.
| Institutions | 83.35% | 481.75M shares | |
|---|---|---|---|
| 823 holders · as of Jun 30, 2026 | |||
| Insiders | 5.40% | 31.23M shares | |
| 9 holders · as of Sep 4, 2026 | |||
| Other | 11.25% | 65.02M shares | |
| remainder | |||
578.00M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.43% | 48.75M A | as of Jun 30, 2026 |
FMR LLCInstitution | 5.80% | 33.53M A | as of Jun 30, 2026 |
Stephen Fredette1,2Insiderdirector, officer: President | 5.30% | 931,449 A · 462,500 B | filed Feb 13, 2025 |
Capital International InvestorsInstitution | 4.63% | 26.74M A | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 3.82% | 22.09M A | as of Jun 30, 2026 |
- Stephen Fredette reports a block also reported by another filer; it is counted once, under that filer.
- The filed share classes (A, B, COMMON) could not be matched to the company's, so no percentage.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 2, 2026 | Jonathan Vassil | officer: Chief Revenue Officer | −14,280 | $33.90 |
| Aug 21, 2026 | Jonathan Vassil | officer: Chief Revenue Officer | −85,280 | $36.34 |
| Aug 19, 2026 | Jonathan Vassil | officer: Chief Revenue Officer | −13,931 | $36.01 |
| Aug 11, 2026 | Jonathan Vassil | officer: Chief Revenue Officer | −13,797 | $36.01 |
| Aug 10, 2026 | Elena Gomez | officer: President, CFO | −5,761 | $35.37 |
- Block
Square-led rival for restaurant commerce and embedded payments
- Shift4 Payments
Restaurant and hospitality challenger through SkyTab
- Lightspeed Commerce
Unified restaurant POS and payments competitor with global reach
- P.A.R. Technology
Enterprise restaurant platform spanning POS, ordering, and loyalty
- NCR Voyix
Established restaurant POS competitor through Aloha
- Oracle
Enterprise restaurant and hospitality rival through Simphony
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Toast | $30.09 | +0.97% | $17.28B | 38.2 | 19.6 | 2.5 | +23.1% |
| Block | $79.07 | +1.49% | $46.37B | 139.1 | 17.2 | 1.9 | +9.3% |
| Shift4 Payments | $39.48 | +0.28% | $3.59B | 67.4 | 5.9 | 0.7 | −35.4% |
| Lightspeed Commerce | $9.59 | +0.31% | $1.32B | — | 14.0 | 1.1 | +5.8% |
| P.A.R. Technology | $15.18 | +0.07% | $625.7M | — | 13.6 | 1.3 | +18.7% |
| NCR Voyix | $7.41 | +1.65% | $1.00B | 18.0 | 7.6 | 0.4 | −21.5% |
| Oracle | $152.09 | +2.37% | $427.95B | 23.3 | 17.9 | 6.0 | +29.6% |
| Median | 45.3 | 13.8 | 1.2 | +7.6% |