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PAR Technology (PAR) Surges 9.3%: Is This an Indication of Further Gains?
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PAR Technology (PAR - Free Report) shares soared 9.3% in the last trading session to close at $42.06. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.3% loss over the past four weeks.
The surge in share price came after the company announced that it has been selected as the exclusive point of sale (POS) software and services provider, with Brink POS and marketplace order management software, with MENU Link, for Burger King traditional restaurants in North America. ParTech, Inc., is a wholly-owned subsidiary of PAR Technology Corporation. PAR’s Brink POS is a next-gen POS software deployed in more than 21,000 restaurant locations to enable their growth.
This software provider for the hospitality industry is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of +25%. Revenues are expected to be $100.45 million, up 8.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For PAR Technology, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PAR going forward to see if this recent jump can turn into more strength down the road.
PAR Technology is part of the Zacks Computer - Integrated Systems industry. Agilysys (AGYS - Free Report) , another stock in the same industry, closed the last trading session 1.7% higher at $67.13. AGYS has returned -6.9% in the past month.
For Agilysys, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. This represents a change of -20.8% from what the company reported a year ago. Agilysys currently has a Zacks Rank of #3 (Hold).
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PAR Technology (PAR) Surges 9.3%: Is This an Indication of Further Gains?
PAR Technology (PAR - Free Report) shares soared 9.3% in the last trading session to close at $42.06. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.3% loss over the past four weeks.
The surge in share price came after the company announced that it has been selected as the exclusive point of sale (POS) software and services provider, with Brink POS and marketplace order management software, with MENU Link, for Burger King traditional restaurants in North America. ParTech, Inc., is a wholly-owned subsidiary of PAR Technology Corporation. PAR’s Brink POS is a next-gen POS software deployed in more than 21,000 restaurant locations to enable their growth.
This software provider for the hospitality industry is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of +25%. Revenues are expected to be $100.45 million, up 8.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For PAR Technology, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PAR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
PAR Technology is part of the Zacks Computer - Integrated Systems industry. Agilysys (AGYS - Free Report) , another stock in the same industry, closed the last trading session 1.7% higher at $67.13. AGYS has returned -6.9% in the past month.
For Agilysys, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. This represents a change of -20.8% from what the company reported a year ago. Agilysys currently has a Zacks Rank of #3 (Hold).