Stephens raised the firm’s price target on Par Technology (PAR) to $83 from $70 and keeps an Overweight rating on the shares. The company’s Q3 results reflected strong execution, with 25% organic ARR growth, 28% organic subscription growth, and the attainment of positive adjusted EBITDA, the analyst tells investors in a research note. The firm added that request for proposal activity remains robust, with an increasing number of enterprise restaurants exploring a shift from on-premises to cloud infrastructure.
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Read More on PAR:
- PAR Technology Reports Strong Q3 2024 Performance
- Par Technology reports Q3 EPS (9c), consensus (10c)
- Par Technology (PAR) Q3 Earnings Cheat Sheet
- Par Technology price target raised to $70 from $65 at Stephens
- Par Technology price target raised to $66 from $60 at Needham
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