PAR Technology (NYSE:PAR) Stock Gets Price Target Boost from Needham & Company LLC

Key Points

• Needham raised its price target for PAR Technology from $25 to $30 and reiterated a Buy rating, implying 55.84% upside from the stock’s current price.
• Analyst sentiment is broadly positive: PAR has a consensus “Moderate Buy” rating and an average price target of $25.17, based on five Buy, two Hold, and one Sell rating.
• PAR beat quarterly estimates, reporting EPS of $0.24 versus $0.22 expected and revenue of $137.11 million versus $129.79 million expected; revenue grew 15% year over year.

PAR Technology (NYSE:PAR - Get Free Report) had its price target upped by stock analysts at Needham & Company LLC from $25.00 to $30.00 in a report issued on Friday, MarketBeat Ratings reports. The firm presently has a "buy" rating on the software maker's stock. Needham & Company LLC's target price points to a potential upside of 55.84% from the company's current price.

A number of other brokerages have also recently weighed in on PAR. JPMorgan Chase & Co. lifted their price objective on shares of PAR Technology from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, August 7th. BTIG Research cut their target price on shares of PAR Technology from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. The Goldman Sachs Group increased their target price on shares of PAR Technology from $18.00 to $20.50 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Weiss Ratings raised shares of PAR Technology from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 27th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.17.

PAR Technology Price Performance

NYSE PAR opened at $19.25 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.21 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $16.72 and a two-hundred day moving average of $17.13. PAR Technology has a 1-year low of $11.59 and a 1-year high of $40.54.

PAR Technology (NYSE:PAR - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $137.11 million for the quarter, compared to analyst estimates of $129.79 million. PAR Technology had a negative net margin of 14.52% and a negative return on equity of 1.62%. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. On average, sell-side analysts anticipate that PAR Technology will post -0.13 earnings per share for the current fiscal year.

Insider Activity at PAR Technology

In other PAR Technology news, Director Narinder Singh bought 11,518 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $17.36 per share, with a total value of $199,952.48. Following the completion of the acquisition, the director directly owned 38,527 shares of the company's stock, valued at $668,828.72. This represents a 42.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.30% of the company's stock.

Institutional Trading of PAR Technology

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in PAR Technology during the second quarter worth approximately $70,563,000. Progeny 3 Inc. lifted its position in shares of PAR Technology by 5.6% during the 1st quarter. Progeny 3 Inc. now owns 2,170,808 shares of the software maker's stock worth $28,937,000 after buying an additional 114,500 shares during the last quarter. Bandera Partners LLC acquired a new position in shares of PAR Technology in the 1st quarter valued at $9,331,000. Renaissance Technologies LLC acquired a new position in shares of PAR Technology in the 1st quarter valued at $5,508,000. Finally, Visionary Wealth Advisors acquired a new position in shares of PAR Technology in the 2nd quarter valued at $6,844,000.

About PAR Technology

PAR Technology Corporation NYSE: PAR provides technology solutions for the restaurant and hospitality industries. Its offerings include point-of-sale systems, restaurant management software, digital ordering, loyalty and customer-engagement tools, payment solutions, workforce management, and related hardware and support services.

The company's portfolio includes Brink POS, a cloud-based restaurant point-of-sale platform, and Punchh, a customer loyalty and engagement platform. PAR also provides tools designed to help restaurant operators manage digital channels, payments, data, and guest relationships through integrated technology solutions.

Founded in 1968, PAR Technology has expanded from its origins in restaurant and hospitality technology through organic development and acquisitions, including Punchh and Stuzo.

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