Added to YB: 2025-09-09
Pitch date: 2025-07-22
TOST [bearish]
Toast, Inc.
+25.94%
current return
Author Info
No bio for this author
Company Info
Toast, Inc. operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, India, and internationally.
Market Cap
$21.1B
Pitch Price
$47.64
Price Target
N/A
Dividend
N/A
EV/EBITDA
59.66
P/E
84.24
EV/Sales
3.29
Sector
Financial Services
Category
N/A
Toast, Inc. - $TOST (short)
TOST short: Market overestimating unit economics of Enterprise/International expansion. Enterprise customers pay 2-3x less than SMB for POS, <25% use payments, won't accept flat merchant rates. Need massive SMB price increases to hit consensus. Competition intensifying (Square, Fiserv). 45x fwd EBITDA vs peers at 15-25x. Management dumping shares while changing narrative.
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