Toast shares are likely to resume their upward trajectory after trading at a discount for much of 2026, according to a new note from Goldman Sachs.
The investment bank highlighted the payments platform as a stock that has underperformed relative to peers but is positioned for a near-term rally.
The research comes as US equity markets approach their strongest quarterly performance in six years, with the S&P 500 on track for its best return since 2020.
While the broad rally has been driven by sustained gains in technology and other sectors, Toast has yet to fully participate in the momentum, creating a valuation gap that Goldman Sachs believes is narrowing.
Investors will be watching for confirmation of this turnaround in the company’s upcoming financial results.
Toast is expected to report its second-quarter 2026 earnings around July 14, based on historical reporting patterns.