Pegasystems added to Best Ideas List at Wedbush

Wedbush analyst Daniel Ives added Pegasystems to the firm’s Best Ideas List, keeping an Outperform rating and a price target of $65 on the shares. The firm sees a compelling risk/reward in shares at current levels. As Wedbush has spoken to a handful of its checks recently, the firm believes the Pega growth story and business model turnaround is now in motion with last week’s June results a step in the right direction despite the knee jerk negative reaction post print.