For a business that is the lifeblood for its customer base, Toast (NYSE: TOST) has made for a pretty lousy investment. In 2023, when the S 500 and the Nasdaq Composite have both posted strong-double-digit gains, this fintech stock is down 15% year to date. Moreover, the mid-cap company's shares are currently 76% below their peak price. That's not really encouraging.
It's not all bad news, though. In fact, there are compelling reasons why Toast might be a worthy investment candidate right now. Here's what you need to know.
The best way to describe what Toast does is to think of its products and services as being like the operating system for a typical restaurant. Not only does Toast sell hardware, like point-of-sale systems and kiosks, but also the necessary software to help restaurant owners better manage their operations. Key features include payment processing, employee payroll and scheduling, loyalty programs, and working capital loans.
Source Fool.com