Pegasystems price target raised to $70 from $60 at Loop Capital

Loop Capital raised the firm’s price target on Pegasystems (PEGA) to $70 from $60 and keeps a Buy rating on the shares. Pegasystems reported “solid” June quarter results, with key drivers including continued enterprise demand for digital transformation of legacy systems and leveraging the firm’s GenAI Blueprint solution in the selling process, the analyst tells investors in a research note. Management commentary around the demand environment and pipeline was notably more upbeat than 90 days ago, Loop says.