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Pegasystems (PEGA) Receives a Hold from Goldman Sachs

In a report released today, Kevin Kumar from Goldman Sachs maintained a Hold rating on Pegasystems (PEGAResearch Report), with a price target of $43.00. The company’s shares closed last Thursday at $41.67, close to its 52-week low of $36.50.

According to TipRanks.com, Kumar is ranked #5564 out of 7966 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pegasystems with a $59.25 average price target, a 54.6% upside from current levels. In a report issued on July 25, Macquarie also downgraded the stock to Hold with a $54.00 price target.

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Based on Pegasystems’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $376 million and GAAP net loss of $379K. In comparison, last year the company earned revenue of $313 million and had a GAAP net loss of $6.62 million.

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Pegasystems, Inc. engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. The company was founded by Alan Trefler in 1983 and is headquartered in Cambridge, MA.

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