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WALTHAM, Mass. - Pegasystems Inc. (NASDAQ:PEGA), a $10 billion market cap technology company with impressive 12.5% revenue growth over the last twelve months, announced Monday that its Pega Cloud service is now available on Google Cloud in Saudi Arabia, enabling local customers to use the company’s enterprise AI and workflow automation capabilities while maintaining data residency within the Kingdom’s borders. According to InvestingPro data, PEGA has demonstrated strong market performance with a 76% return over the past year.
The deployment supports Saudi Arabia’s Vision 2030 initiative to establish the country as a regional technology hub. According to the press release, the Saudi Arabian Information and Communications Technology market is valued at approximately $48 billion and growing at a 15-16% compound annual growth rate. PEGA’s expansion comes at a time when the company maintains a strong financial health score of "GREAT" on InvestingPro, with robust cash flows and moderate debt levels.
Pega Cloud on Google Cloud provides customers with a fully managed service that includes 24/7 support, operational system monitoring, and fault-tolerant environments with multi-layer redundancy. The company states the service is designed to reduce time to market, improve planning and cost efficiency, and deliver enterprise-grade security.
"This expansion represents our ongoing commitment to existing clients in Saudi Arabia and our dedication to supporting new customers as they embark on their digital transformation journeys," said Karim Zein, VP & Managing Director, EMEA West Pega, in the press release.
The service offers capabilities including enterprise-grade cloud services, access to Pega’s latest features, centralized operations management, and Pega Agentic AI tools like Pega Blueprint for application development.
Pegasystems noted in its announcement that it was recently recognized as a leader in the Forrester Wave for AI Decisioning Platforms, achieving what the company described as a perfect score on strategy.
The information in this article is based on a press release statement from Pegasystems Inc.
In other recent news, Pegasystems reported strong second-quarter 2025 results, showcasing significant growth in both earnings and revenue. The company reported non-GAAP earnings per share of $0.28, surpassing consensus estimates of $0.23, and revenue of $385 million, exceeding the $363 million consensus. This performance has led to a series of price target increases from various analyst firms. JMP Securities raised its price target to $78 from $63, maintaining a Market Outperform rating, while Citi increased its target to $70 from $66, citing strong demand for GenAI. Barclays also raised its price target to $58 from $50, noting Pegasystems’ above-consensus performance for the second consecutive quarter. Additionally, DA Davidson increased its price target to $60 from $50, maintaining a Neutral rating. The company achieved record second-quarter net new annual contract value (ACV), with growth accelerating to 16% year-over-year. These developments highlight Pegasystems’ strong market position and financial performance in recent months.
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