Technology

Report by Sidoti & Company

PAR has repositioned itself as a pure-play technology company following the divestiture of its government business, while expanding its TAM through the acquisitions of Stuzo and TASK, which extended its cloud-based unified commerce platform into convenience stores, fuel retailers and new international markets. Although management flagged some caution on ARR growth in 2025, Sidoti expects the company to achieve its 20% growth target in 2026, supported by recent contract wins and a ~$100m pipeline (excluding two large deals, one potentially closing by year-end). The recent share price sell-off is unwarranted, as PAR is well-positioned to win larger customers with more potential for upselling and margin expansion. An improved balance sheet also allows for increased flexibility around further M&A opportunities. TP $97 (150% upside).

Technology

Report by Sidoti & Company

Acquisitions of TASK Group and Stuzo Holdings accelerate PAR’s cloud-based unified commerce platform into convenience stores and fuel retailers, as well as new international markets. The acquired businesses add $80m in ARR (to $137m ending 2023) and are expected to add $20m adjusted EBITDA, bringing PAR to adjusted EBITDA profitability ahead of its previous goal by the end of 2024. Sidoti upgrades the stock to Buy and increases their TP to $61 (40% upside).