Pegasystems price target raised to $90 from $70 at DA Davidson

DA Davidson raised the firm’s price target on Pegasystems (PEGA) to $90 from $70 and keeps a Neutral rating on the shares after its Q1 earnings beat. The company struck a positive tone on end demand, even in the current environment, which was better than expected, while its Free cash flow conversion continues to improve and share repurchases are accelerating, the analyst tells investors in a research note.