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Jim Cramer - Mad MoneyToastTOSTBUYNov 08, 2023

Shares fell 8% after reporting. But revenues came in in-line, gross payment volume rose 34% YOY, and total locations jumped 34% YOY

Jim Cramer - Mad Money

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BUY

Last night they reported another incredible quarter, but shares then fell 13% after hours, but this morning was up +1%. Nothing changed. Revenue and earnings and cash flow earned. Users are using AI. Plus, there was good guidance. Does the rally continue past today? Don't know, because people could be insane tomorrow.

HOLD

Their quarter was excellent, though some didn't. Problem is, the restaurant stocks have been weak, so TOST has been weak. Be patient.

BUY

He added more. This has the potential to be an AI consulting company for hospitality (hotels, etc.). It's consolidating before moving higher.

BUY

They report Wednesday. Is a growth machine. He expects top and bottom beats and higher forecast. Executed well at EPS growth the past 4 quarters at 211%.

WATCH

Wednesday is investor day. Lately we hear things have been slowing for them, but if they dispute that, then shares will fly.

DON'T BUY

TOST offers nothing proprietary. These companies are interchangeable.

BUY

Own this to benefit from the general trend of people eating out, whether casual or high-end. it's been stuck at these levels at a while though. Prefers this to any fast food stock.

COMMENT

It's amazing how so many of these small companies are seeing their stocks rise even as nothing is really happening. Maybe shares shouldn't have fallen that far to begin with. They report this week.

DON'T BUY

Toast competes with Lightspeed and Square offering payment systems to restaurants. Toast debuted today and shares popped from $40 to $62.51, but that's too far--Toast will be burnt. Sure, it's a great company with strong business. Also, restaurants are spending huge on tech so Toast is a timely IPO. That said, there's a lot of competition in this space. Then again, it's hard to find resto workers now and so labour costs are higher for resto owners, so technology makes Toast's services looks attractive. Bottom lie: Toast's valuation is too high, though it's a good company. Their balance sheet is clean and they are inching towards profitability. The current share price is priced for perfection. He predicts shares will plunge at the end of lock-up period.

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