Pegasystems price target raised to $58 from $50 at Barclays

Barclays raised the firm’s price target on Pegasystems (PEGA) to $58 from $50 and keeps an Equal Weight rating on the shares. Following what the firm describes as “another quarter of above consensus growth,” it adds that Q2 was “almost better compared to Q1 when looking at the quality of the beat.” While stating that it is “getting clearer” that the genAI Blueprint offering is “starting to work well as a demand generation tool,” the firm keeps an Equal Weight rating as it does more work on the ultimate total addressable market and Appian’s (APPN) lawsuit.