PAR Technology (PAR) Advances Cloud-Native Strategy, Earning Analyst Confidence
PAR Technology Corporation (NYSE:PAR) is one of the best falling stocks to buy, according to Wall Street analysts. PAR Technology Corporation (NYSE:PAR) holds a Strong Buy consensus from 7 analysts, with 6 Buys and 1 Hold. The average price target is $56.40, ranging from $42 to $77, implying a 63.43% upside from the current $34.51.
On November 19, BTIG analyst Andrew Harte reaffirmed a Buy rating on Par Technology (PAR) and set a $60 price target. Earlier, on November 5 at the Stephens Annual Investment Conference, CEO Savneet Singh reiterated that the company is transitioning into a unified cloud-native platform for restaurants and convenience stores.
Amid the transition, the company is targeting mid-teens annual recurring revenue growth driven by its Operated Cloud Business. The company is also banking on a significant backlog to drive revenue growth amid a strong and refreshed pipeline.
Part of the strategy also entails accelerating the integration of artificial intelligence into products while enhancing back-office operations and customer engagement. PAR Technology is increasingly launching AI-powered SKUs, such as Coach AI, for back-office operations while developing AI solutions for loyalty program management.
The company is also prioritizing strategic partnerships with major US brands to enhance global deployments of its solutions. Erbert & Gerbert’s Sandwich Shop is the latest to select it to provide point-of-sale, payment processing, delivery loss recovery, and menu management solutions across its 80 locations.
PAR Technology Corporation (NYSE:PAR) is a company that provides technology solutions for the restaurant industry, offering a unified system that includes point-of-sale (POS), loyalty programs, ordering, payments, and operations software.
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Disclosure: None. This article is originally published at Insider Monkey.
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