William Blair analyst Stephen Sheldon has maintained their bullish stance on PAR stock, giving a Buy rating on October 7.
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Stephen Sheldon has given his Buy rating due to a combination of factors that suggest a positive outlook for Par Technology. The company is currently a finalist in three significant deals, two of which are international TASK opportunities, and one is a POS opportunity in North America. Management is optimistic about their chances in these processes, which, if successful, could greatly enhance investor confidence and boost organic ARR growth.
Despite some delays in decision-making and implementation due to macroeconomic uncertainties, there is still strong demand for PAR’s loyalty solutions. These solutions are attractive to operators as they do not require substantial capital investments, aligning with the increasing consumer participation in loyalty programs. While there are concerns about rising competition from companies like Toast and Olo, the current market dynamics and PAR’s strategic positioning present a compelling case for investment.
In another report released on October 7, BTIG also maintained a Buy rating on the stock with a $65.00 price target.