The Goldman Sachs Group Issues Pessimistic Forecast for PAR Technology (NYSE:PAR) Stock Price

Key Points

• Goldman Sachs has cut its price target for PAR Technology from $50.00 to $38.00, maintaining a "neutral" rating on the stock, which indicates limited upside potential of just 4.19% from current levels.
• Despite Goldman Sachs' outlook, other analysts like Needham & Company and BTIG Research have issued "buy" ratings with significantly higher price targets, suggesting a divergence in analyst opinions.
• PAR Technology reported earnings of $0.03 per share for the last quarter, missing the consensus estimate, but revenue increased by 43.8% year-over-year, indicating strong growth despite current challenges.

PAR Technology (NYSE:PAR - Get Free Report) had its price objective cut by equities researchers at The Goldman Sachs Group from $50.00 to $38.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the software maker's stock. The Goldman Sachs Group's price target points to a potential upside of 4.19% from the company's current price.

Several other equities analysts have also recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 target price on shares of PAR Technology in a research note on Friday, July 11th. Benchmark lowered their price target on PAR Technology from $92.00 to $77.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. BTIG Research upgraded PAR Technology from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of PAR Technology in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.57.

PAR Technology Stock Performance

PAR traded up $0.27 during midday trading on Monday, reaching $36.47. The company had a trading volume of 271,850 shares, compared to its average volume of 577,279. The company has a quick ratio of 1.49, a current ratio of 1.70 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $46.62 and a two-hundred day moving average of $57.68. The company has a market cap of $1.48 billion, a P/E ratio of -16.23 and a beta of 1.65. PAR Technology has a 1 year low of $35.99 and a 1 year high of $82.24.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $112.40 million during the quarter, compared to the consensus estimate of $111.02 million. PAR Technology had a negative net margin of 20.64% and a negative return on equity of 3.16%. PAR Technology's revenue for the quarter was up 43.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) earnings per share. As a group, equities research analysts predict that PAR Technology will post -1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank grew its stake in PAR Technology by 66.2% in the 2nd quarter. Huntington National Bank now owns 437 shares of the software maker's stock valued at $30,000 after acquiring an additional 174 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of PAR Technology by 8,616.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the software maker's stock valued at $32,000 after acquiring an additional 517 shares in the last quarter. Advisors Asset Management Inc. increased its position in PAR Technology by 68.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 563 shares of the software maker's stock worth $39,000 after purchasing an additional 229 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of PAR Technology by 232.4% during the 1st quarter. GAMMA Investing LLC now owns 698 shares of the software maker's stock worth $43,000 after purchasing an additional 488 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of PAR Technology by 161.7% in the first quarter. Assetmark Inc. now owns 785 shares of the software maker's stock valued at $48,000 after buying an additional 485 shares during the last quarter.

About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.

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