PAR Technology (PAR) to Provide POS Solution to Burger King
PAR Technology Corporation’s PAR wholly-owned subsidiary, ParTech Inc., has been selected as the sole provider of Burger King’s point-of-sale (POS) software and related services for its traditional restaurants in North America. ParTech will provide its next-gen Brink POS software to Burger King. This software serves more than 21,000 restaurants.
The software suite integrates Brink POS and marketplace order management solution, with MENU Link, creating a flexible cloud-native platform for seamless omni-channel ordering, kitchen management, restaurant operations and analytics. Brink POS also offers an easy integration with a customer's existing IT stacks and a user-friendly interface.
The MENU Link feature that comes with this suite combines the restaurant's off-premise and on-premise orders, ensuring a unified order management system that works across the largest delivery marketplaces. It also integrates third-party ordering platforms to increase efficiency.
PAR Technology Corporation Price and Consensus
PAR Technology Corporation price-consensus-chart | PAR Technology Corporation Quote
PAR Technology is benefiting from the global restaurant ecosystem where large enterprise restaurants are focusing on cost reduction while trying to create a consistent customer experience across various ordering channels. On its second-quarter 2023 earnings call, PAR revealed that Brink’s average revenue per unit (ARPU) is very high. Notably, the total base ARPU has increased by approximately 14% in 2022.
The guest engagement segment, which includes ParTech's digital ordering platform, MENU, and the loyalty solution Punchh, experienced a 14.5% increase in annual recurring revenues in the second quarter of 2023. In the year so far, Punchh has been adopted by multiple companies, including Stinker Stores and Zaxby. Notably, Zaxby also selected Brink POS to enhance its guest experience.
Zacks Rank and Stocks to Consider
PAR Technology carries a Zacks Rank #3 (Hold) at present. Shares of the company have rallied 53.8% year to date.
Some better-ranked stocks from the broader technology sector are NetEase NTES, NVIDIA NVDA and Splunk SPLK. Currently, NetEase, NVIDIA and Splunk sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NTES' third-quarter fiscal 2023 earnings has been revised upward by 10 cents to $1.57 per share in the past 60 days. For fiscal 2023, earnings estimates have increased by 35 cents to $6.54 per share in the past 60 days.
NetEase’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, the average surprise being 24.54%. Shares of NTES have surged 40.9% year to date.
The Zacks Consensus Estimate for NVIDIA's third-quarter fiscal 2024 earnings has been revised upward by 2 cents to $3.34 per share in the past seven days. For fiscal 2024, earnings estimates have increased by 7 cents to $10.74 per share in the past seven days.
NVIDIA’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, the average surprise being 9.8%. Shares of NVDA have soared 213.3% year to date.
The Zacks Consensus Estimate for SPLK's third-quarter fiscal 2024 earnings has been revised upward by a penny to $1.12 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 2 cents to $3.78 per share in the past 30 days.
Splunk’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 155%. Shares of SPLK have rallied 70.4% year to date.
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