Loop Capital analyst Mark Schappel maintains $Pegasystems (PEGA.US)$ with a buy rating, and adjusts the target price from $84 to $90.
According to TipRanks data, the analyst has a success rate of 60.8% and a total average return of 8.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Pegasystems (PEGA.US)$'s main analysts recently are as follows:
Pegasystems delivered robust third-quarter results, marked by an acceleration in cloud growth.
Pegasystems' Q3 earnings surpassed expectations, with its constant currency Annual Contract Value (ACV) growth reaching 14%, which exceeded the anticipated 11% growth projection. Furthermore, the company reported a stronger than anticipated free cash flow. Analyst sentiment remains positive, bolstered by effective go-to-market changes that have improved execution levels.
Pegasystems has reported a strong quarter, marked by a significant beat in Annual Contract Value (ACV), with the company experiencing rapid growth in the number of Blueprints. Early Blueprint activity is hastening the ACV growth by improving client engagement. This is seen as a substantial positive development for Pegasystems, signaling the presence of multiple pivotal growth drivers in the coming years, considering the sizeable market opportunity at hand.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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