Analyst Mayank Tandon from Needham reiterated a Buy rating on Par Technology and keeping the price target at $90.00.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight Par Technology’s promising growth trajectory. The company’s recent success in securing enterprise clients and the strategic timing of their roll-outs demonstrate its strong competitive position. Additionally, Par Technology’s multi-product strategy and its ability to make strategic acquisitions are expected to expand its product offerings and total addressable market.
Furthermore, Tandon is confident that Par Technology will achieve its goal of growing annual recurring revenue at a rate exceeding 20% organically. This growth is anticipated to lead to improved EBITDA margins as the company benefits from increased scale. As a result, there is potential for the stock to be re-rated positively as both growth and margins improve, supporting the reiterated Buy rating with a target price of $90.
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.