Toast: Poised To Climb Higher While Printing Free Cash Flow

  • Toast is rapidly growing, delivering 25% annual revenue growth and strong free cash flow, with a debt-free balance sheet and 6% of market cap in cash. I see a clear path to $600 million in free cash flow by 2026, supporting a bullish price target of $60 per share by summer 2026. Toast's platform is expanding quickly, adding thousands of locations and moving beyond restaurants into food retail and international markets.