William Blair analyst Stephen Sheldon has reiterated their bullish stance on PAR stock, giving a Buy rating yesterday.
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Stephen Sheldon’s rating is based on several positive developments for Par Technology. The company’s third-quarter performance was largely in line with expectations, with total revenue surpassing estimates due to strong hardware sales. Although the profit was slightly below expectations, management provided optimistic updates regarding their progress with Burger King, advancements in their loyalty and ordering solutions, and a significant global RFP process entering the development phase.
Looking ahead, management remains confident in achieving mid-teens organic ARR growth by 2025, despite previously targeting higher growth rates. The rollout of Burger King locations is expected to be completed by the end of 2026, and the company maintains a robust ARR pipeline of nearly $100 million. Furthermore, Par Technology is a finalist in two major RFPs with top-10 global brands, which could significantly enhance growth if successful. These factors collectively contribute to Sheldon’s Buy rating for the stock.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $65.00 price target.