Par Technology price target lowered to $45 from $60 at BTIG

BTIG analyst Andrew Harte lowered the firm’s price target on Par Technology (PAR) to $45 from $60 and keeps a Buy rating on the shares. The company’s Q4 conference call gave investors plenty to be excited about – 15% organic annual recurring revenue, ARR, growth in the quarter, a strong backlog of ARR that is expected to drive mid-teens organic growth in FY26, and extreme optimism about delivering AI products to its enterprise restaurant customers, the analyst tells investors in a research note. The key negative point however was the expectation for ARR growth to be second-half-weighted as a result of managing out some legacy low margin customers during Q1, the firm adds.