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Investing.com - DA Davidson upgraded Pegasystems (NASDAQ:PEGA) from Neutral to Buy and raised its price target to $85.00 from its previous level. The stock, currently trading at $64.78, has demonstrated remarkable strength with a 51.7% return over the past year. According to InvestingPro data, Pegasystems boasts a market capitalization of $11.1 billion and maintains a "GREAT" financial health score.
The upgrade follows Pegasystems’ strong third-quarter results, which demonstrated sustainable Cloud Annual Contract Value (ACV) growth that accelerated for the third consecutive quarter.
The firm noted that the growth was driven by high customer demand for Pegasystems’ business transformation capabilities through its Blueprint offering.
DA Davidson highlighted that Pegasystems still has significant opportunity to modernize legacy applications, which could provide upside to the company’s long-term targets.
The research firm expressed increased confidence in Pegasystems’ long-term growth trajectory, noting that Blueprint adoption remains in its early stages.
In other recent news, Pegasystems Inc . reported impressive financial results for the third quarter of 2025. The company surpassed Wall Street expectations with earnings per share of $0.30, significantly higher than the forecasted $0.20, representing a 50% surprise. Additionally, Pegasystems exceeded revenue projections, reporting $381.35 million compared to the anticipated $351.54 million. These results highlight the company’s strong performance and have drawn attention from investors. Analysts have noted the positive earnings surprise, which could impact future evaluations of the company. The robust financial performance of Pegasystems is a key development for stakeholders. Investors may find these results indicative of the company’s current financial health. These recent developments underscore the importance of closely monitoring Pegasystems’ future earnings reports.
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