If you look hard enough, you can still find quality businesses to buy. Toast (NYSE: TOST) in particular just reported financial results that the market cheered for, with shares jumping 13% immediately following the announcement.

If we dig a bit deeper, there's a lot to like about this company and the direction it's headed in, even though the growth stock is down 58% from its all-time high. Here's why it's still a smart buy right now.

At a high level, Toast caters to the specific needs of restaurants. This means providing hardware and software solutions to handle things like payment processing, omnichannel ordering, loyalty programs, employee payroll, and accounting. Toast is essentially a leading operating system provider for owners and operators, with the goal of making running a restaurant as seamless as possible.

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Source Fool.com