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PAR · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is PAR Technology Corp. (PAR) stock moving?
PAR reported Q3 2026 results on Nov 5 that beat expectations on both lines: revenue rose 15% year over year to $137.1M against a $129.5M estimate, and adjusted EPS of $0.24 beat the $0.21 estimate. ARR grew 18.1% to $354.5M, adjusted EBITDA reached $17.1M versus $5.8M a year earlier, and year-to-date revenue is up 17.6%. Management raised FY2026 revenue guidance to $532.5M-$536.5M from $516M-$523M, above the $517.9M consensus, and guided Q4 revenue to $138M-$142M and adjusted EBITDA to $17.5M-$19.0M. Analysts followed: Needham kept its Buy and raised its target from $25 to $30, while JP Morgan kept Neutral and raised its target from $18 to $19. Price action confirms the reaction. The stock closed at $18.13 on Nov 3, jumped to $19.00 on Nov 4 on 2.46M shares (about 3x the prior week's typical volume), and reached a $22.44 high on Nov 9 before closing at $22.30 on Nov 10, roughly 23% above the Nov 3 close. The shares now trade above JP Morgan's $19 target and about 26% below Needham's $30 target. Risks remain: year-to-date GAAP net loss from continuing operations is still $42.1M, subscription gross margin fell 180 bps on a non-GAAP basis, and the rally has been fast, leaving room for near-term pullbacks.
News behind the analysis
- JP Morgan Maintains Neutral Rating on PAR Technology and Raises Price TargetJP Morgan kept its Neutral rating on PAR and raised its price target from $18 to $19.
- Needham Maintains Buy Rating and Raises Price Target for PAR TechnologyNeedham reaffirmed its Buy rating on PAR and raised its price target from $25 to $30.
- Needham Maintains Buy on PAR Technology, Raises Price Target to $30Needham keeps its Buy call on PAR and lifts its target to $30 after the third-quarter results.
- PAR Technology Corporation Reports Q3 2026 Financial Results and Provides Q4 Revenue GuidanceQ3 revenue rose 15% to $137.1M and ARR rose 18.1% to $354.5M, with Q4 revenue guided to $138.0M-$142.0M and adjusted EBITDA to $17.5M-$19.0M.
- PAR Technology Q3 2026 Earnings Call TranscriptManagement discussed Q3 results, PAR Intelligence deployments and the outlook for 2027, with the full transcript published.
- PAR Technology Raises FY2026 Sales Guidance from $516.000M-$523.000M to $532.500M-$536.500M vs $517.924M EstThe raised full-year 2026 revenue range sits above the $517.9M consensus estimate.
- PAR Technology Q3 Adj. EPS $0.24 Beats $0.21 Estimate, Sales $137.108M Beat $129.542M EstimateAdjusted EPS of $0.24 beat the $0.21 estimate and revenue of $137.1M beat the $129.5M estimate.
About PAR Technology Corp.
PAR Technology is a New York–based company that sells cloud software and hardware to large restaurant chains and convenience stores. It focuses on big multi-location brands and offers a full set of tools: point-of-sale (Brink POS), loyalty (Punchh), online ordering and back-office systems, plus a newer AI layer called PAR Intelligence.
How it makes money
Most of its revenue and growth comes from recurring software subscriptions in two groups: Operator Cloud (POS, payments, back-office) and Engagement Cloud (Punchh loyalty, PAR Ordering, PAR Retail, Plexure, Bridg). It also earns money from POS terminals and other hardware, and from installation and support services. Revenue was roughly $133 million in Q2 2026, up about 19% from a year earlier, and the company was still reporting GAAP net losses.
What usually moves PAR
- Wins and rollouts with large (Tier 1) restaurant chains
- Subscription revenue growth and recurring revenue
- Progress toward profitability and adjusted EBITDA margins
- Restaurant industry spending on technology
- Acquisitions and debt levels