Par Technology, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mayank Tandon from Needham reiterated a Buy rating on the stock and has a $90.00 price target.
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Mayank Tandon has given his Buy rating due to a combination of factors that suggest potential growth for Par Technology. Despite a recent decline in stock price following concerns about slower organic ARR growth, Tandon views this as a temporary setback. He anticipates that growth will pick up in the second half of the year as the delayed Burger King rollout progresses and other recent multi-product wins become operational.
Furthermore, Tandon believes that the current stock valuation, trading at a reasonable EV/revenue multiple, presents a compelling risk-reward scenario. He expects accelerating ARR growth and improving EBITDA margins to act as positive catalysts for the stock. As a result, he maintains a Buy rating with a target price of $90 and includes PAR on the Conviction List.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PAR in relation to earlier this year.