Jefferies analyst Samad Samana maintained a Buy rating on Par Technology (PAR – Research Report) on May 9 and set a price target of $90.00.
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Samad Samana has given his Buy rating due to a combination of factors that indicate a promising outlook for Par Technology. The company’s first-quarter results were mixed, but they managed to achieve in-line annual recurring revenue (ARR) growth despite facing a significant foreign exchange headwind. This resilience, coupled with a positive update on the Burger King rollout, suggests that Par Technology is well-positioned for accelerated growth in the latter half of the year.
Additionally, the company has demonstrated strong execution in securing new deals, with a robust pipeline that includes several Tier 1 brands. Par Technology’s strategic diversification of vendor relationships and its focus on operational efficiency further bolster its potential for sustained growth. These elements, combined with the company’s ability to manage operating expenses effectively, underpin Samad Samana’s confidence in recommending a Buy rating for Par Technology’s stock.
Samana covers the Technology sector, focusing on stocks such as HubSpot, ServiceNow, and Shopify. According to TipRanks, Samana has an average return of 4.7% and a 49.03% success rate on recommended stocks.
In another report released today, Needham also reiterated a Buy rating on the stock with a $90.00 price target.