3 Reasons Toast's Stock Could Soar Higher in 2024 (and 1 Reason It Might Struggle)
Toast (NYSE: TOST) is coming off a lackluster year in 2023, where its share price rose by a modest 2%. The shaky ground the economy is on hasn't been doing any favors for the company. But the business itself hasn't been doing badly at all.
Restaurants use Toast's point-of-sale (POS) devices to help simplify their operations, and it integrates with other functions as well. It adds a lot of value to the industry, and the number of restaurants using POS devices has been rising. With a potential soft landing for the economy in 2024, could this be a better year for Toast's stock?
One encouraging sign for Toast's business is that it is signing on more restaurants. As of the end of the third quarter (which ended Sept. 30), the company was serving 99,000 locations, adding 6,500 stores during the period.
Source Fool.com
