Pegasystems price target raised to $116 from $107 at Citi

Citi raised the firm’s price target on Pegasystems (PEGA) to $116 from $107 and keeps a Buy rating on the shares after the company reported upside to consensus across core metrics in a “solid” Q1. Demand remains “robust for GenAI and legacy replacement solutions” with Pega potentially benefitting from DOGE mandates, says the analyst, who is “encouraged by the solid execution.”