Needham & Company LLC Lowers PAR Technology (NYSE:PAR) Price Target to $25.00

Key Points

• Needham & Company cut its price target on PAR Technology from $30 to $25 but maintained a "buy" rating, a target that implies roughly a 97% upside from the recent ~$12.69 share price.
• Analysts remain generally positive — the consensus is a "Moderate Buy" (five Buy, one Hold, one Sell) with a consensus price target of $33.20, though several firms have recently trimmed targets.
• PAR beat the latest quarter with $0.06 EPS and $120.1M revenue (up 14.4% YoY) but remains unprofitable (net margin -18.54%, negative ROE) and is trading near its 12‑month low with a market cap of about $523M.

PAR Technology (NYSE:PAR - Get Free Report) had its price objective reduced by stock analysts at Needham & Company LLC from $30.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Needham & Company LLC's price target would indicate a potential upside of 97.08% from the company's current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of PAR Technology in a research report on Friday, March 27th. William Blair reiterated an "outperform" rating on shares of PAR Technology in a research report on Friday, March 13th. Stephens cut their price objective on PAR Technology from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, February 27th. Benchmark cut their price objective on PAR Technology from $42.00 to $33.00 and set a "buy" rating for the company in a research report on Monday, March 16th. Finally, BTIG Research cut their price objective on PAR Technology from $60.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.20.

PAR Technology Stock Performance

Shares of NYSE PAR opened at $12.69 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $18.05 and a 200-day simple moving average of $29.87. The company has a market cap of $523.13 million, a PE ratio of -6.10 and a beta of 1.48. PAR Technology has a 12-month low of $12.42 and a 12-month high of $72.15.

PAR Technology (NYSE:PAR - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The software maker reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.16. The business had revenue of $120.10 million during the quarter, compared to the consensus estimate of $116.39 million. PAR Technology had a negative return on equity of 2.32% and a negative net margin of 18.54%.PAR Technology's quarterly revenue was up 14.4% on a year-over-year basis. On average, equities research analysts forecast that PAR Technology will post -1.47 EPS for the current year.

Insider Activity at PAR Technology

In other PAR Technology news, insider Cathy A. King sold 1,517 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.27, for a total transaction of $27,715.59. Following the sale, the insider directly owned 56,626 shares of the company's stock, valued at $1,034,557.02. The trade was a 2.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Voss Capital, Lp bought 65,100 shares of the business's stock in a transaction on Wednesday, February 4th. The shares were purchased at an average cost of $22.44 per share, for a total transaction of $1,460,844.00. Following the completion of the purchase, the insider owned 4,140,100 shares in the company, valued at approximately $92,903,844. This trade represents a 1.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 526,202 shares of company stock worth $14,669,269 and sold 90,689 shares worth $1,600,226. Company insiders own 3.70% of the company's stock.

Institutional Trading of PAR Technology

Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in PAR Technology during the 3rd quarter valued at $26,000. Aster Capital Management DIFC Ltd acquired a new position in shares of PAR Technology in the third quarter worth $28,000. Manning & Napier Advisors LLC acquired a new position in shares of PAR Technology in the third quarter worth $36,000. State of Wyoming acquired a new position in shares of PAR Technology in the fourth quarter worth $34,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of PAR Technology in the fourth quarter worth $35,000.

About PAR Technology

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company's platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR's integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.

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