RBC Capital analyst Rishi Jaluria raised the firm’s price target on Pegasystems (PEGA) to $120 from $100 and keeps an Outperform rating on the shares. The company reported a solid Q1, beating on Cloud ACV and profitability, and the firm continues to view upside to estimates from strong sales execution bolstered by Blueprint momentum driving Cloud migration strength and new government efficiency offerings, the analyst tells investors in a research note.
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