DA Davidson analyst Lucky Schreiner upgraded Pegasystems (PEGA) to Buy from Neutral with a price target of $85, up from $60. The company reported “very strong” Q3 results with accelerating cloud contract volume growth, the analyst tells investors in a research note. The firm believes Pegasystems has a large opportunity to modernize legacy applications which can provide upside to long-term estimates. Blueprint adoption remains in the early stages, contends DA Davidson.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PEGA: