Pegasystems price target raised to $95 from $90 at DA Davidson

DA Davidson raised the firm’s price target on Pegasystems (PEGA) to $95 from $90 and keeps a Neutral rating on the shares after the company’s annual Pegaworld conference. It’s clear that Blueprint is playing an increasingly strategic role in how Pegasystems engages with customers and partners, thinks about growth, and allocates go-to-market resources, the analyst tells investors in a research note. The company also offered a rare intra-year update to annual guidance, raising revenue and earnings estimates based on its Q1 performance, the firm added.