Par Technology Corp Up 9.31% To $34.65 After Earnings Beat

Friday, November 10, 2023 - Par Technology Corp (PAR) reported upside earnings and revenues today.

The consensus among analysts for Par Technology Corp was for an earnings per share (EPS) loss of $0.35 per share. The firm was able to surpass those projections, reporting an EPS loss of $0.21 per share, a positive surprise of $0.14 (40%). Profits rose 52% year-over-year after reporting an EPS loss of $0.44 per share in its year-ago quarter. The positive growth rate signals that the Technology company is performing well amid recent economic conditions.

Revenues were upbeat at $107.1 million. That is an increase of 15.49% in revenues from the year-ago report and is 5.92% higher than consensus estimates set at $101.2 million.

The stock is up 9.31% to $34.65 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Par Technology Corp a Bearish Sentiment Rank from InvestorsObserver.

Par Technology Corp has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 83, putting Par Technology Corp in the top 25% of stocks. The firm was recently trading at a 52-week high of $46.63 on September 6, 2023 and set a 52-week low on December 20, 2022 at $21.26.

PAR Technology Corp together with its subsidiaries provides management technology solutions including software, hardware, and related services, integral to the point-of-sale infrastructure and task management, information gathering, assimilation and communication services. It has two segments. Restaurant/ Retail segment provides point-of-sale and management technology solutions such as hardware, software and integrated technical solutions to the restaurant and retail industries. Government segment provides intelligence, surveillance, and reconnaissance solutions and mission systems support. The company derives the majority of its revenues from the Restaurant/ Retail segment.