Wednesday, 28 February 2024


Rosenblatt maintains buy rating, $62 target on Pegasystems stock By

Big Short Investor Burry Warns of 'Last Hurrah'

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On Monday, Rosenblatt reiterated its Buy rating on Pegasystems (NASDAQ:) with a steady price target of $62.00. The firm anticipates Pegasystems to unveil its fourth-quarter results for the period ending December 31st on February 14th after the market closes, followed by a conference call scheduled for February 15th at 8 am ET.

The analyst from Rosenblatt forecasted the upcoming quarterly report and made slight adjustments to the fiscal years 2023 and 2024 models. The firm’s perspective is that Pegasystems’ primary sectors have seen a relatively stable spending environment throughout the fourth quarter. This stability is attributed to ongoing digital transformation programs and workflow automation initiatives.

Pegasystems’ customers are reportedly continuing to explore initial applications for GenAI-driven customer relationship management (CRM) and customer service applications. This interest remains despite the broader economic challenges faced by various industries.

In the previous quarter, Pegasystems highlighted the development of approximately 20 GenAI boosters within its Pega Infinity platform. These advancements are part of the company’s efforts to enhance its offerings and stay ahead in the competitive field of digital transformation solutions.

Rosenblatt’s maintained price target and Buy rating reflect a consistent confidence in Pegasystems’ performance and market position. The firm’s analysis suggests a positive outlook for Pegasystems as it approaches its quarterly earnings report and continues to innovate in its sector.

InvestingPro Insights

In light of the upcoming earnings report for Pegasystems (NASDAQ:PEGA), recent data from InvestingPro provides a deeper look into the company’s financial health and market performance. With a market capitalization of $4.17 billion, Pegasystems stands as a significant player in the field of digital transformation solutions.

InvestingPro Tips indicate that Pegasystems has been a model of consistency when it comes to rewarding its shareholders, maintaining dividend payments for 18 consecutive years. This could be reassuring for investors looking for stability in their investments. Analysts also predict that the company will return to profitability this year, which may signal an optimistic future for the company’s financials.

Key metrics from the last twelve months as of Q3 2023 reveal a revenue growth of 9.48%, showcasing the company’s ability to increase its earnings over time. The gross…

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