RBC Capital Remains a Buy on Pegasystems (PEGA)
In a report released yesterday, Rishi Jaluria from RBC Capital maintained a Buy rating on Pegasystems, with a price target of $60.00. The company’s shares closed yesterday at $37.48.
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According to TipRanks, Jaluria is an analyst with an average return of -6.9% and a 47.70% success rate. Jaluria covers the Technology sector, focusing on stocks such as Intuit, Microsoft, and Pegasystems.
Pegasystems has an analyst consensus of Strong Buy, with a price target consensus of $58.00, representing a 54.75% upside. In a report released yesterday, Barclays also assigned a Buy rating to the stock with a $48.00 price target.
Based on Pegasystems’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $429.97 million and a net profit of $32.76 million. In comparison, last year the company earned a revenue of $475.63 million and had a net profit of $85.42 million
Based on the recent corporate insider activity of 142 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PEGA in relation to earlier this year. Last month, Efstathios Kouninis, the SVP & CAO of PEGA sold 1,000.00 shares for a total of $42,880.00.
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