William Blair analyst Stephen Sheldon has reiterated their bullish stance on PAR stock, giving a Buy rating today.
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Stephen Sheldon has given his Buy rating due to a combination of factors that highlight Par Technology’s strong performance and promising future prospects. The company’s fourth-quarter results exceeded expectations, with revenue surpassing estimates and strong annual recurring revenue (ARR) growth. This growth was bolstered by the acquisition of Delaget, which contributed significantly to ARR, showcasing a robust organic growth rate.
Moreover, Par Technology’s strategic moves, such as the expansion of its contract with Burger King to include additional services, are expected to enhance ARR contributions significantly. The company also secured a payments contract with a large customer, which could substantially increase its payments revenue. Additionally, the launch of new products and successful upsells indicate a positive trajectory for future growth. These factors collectively support Sheldon’s optimistic outlook and Buy rating for Par Technology.