Pegasystems price target raised to $100 from $90 at Wedbush

Wedbush raised the firm’s price target on Pegasystems (PEGA) to $100 from $90 and keeps an Outperform rating on the shares. Pegasystems delivered a strong quarter, including a large beat in ACV, as the company continues to see the amount of Blueprints rapidly grow as early Blueprint activity is already accelerating ACV growth by enhancing client engagement, the analyst tells investors in a research note. The firm views this as another major step in the right direction for the Pegasystems story with multiple key growth drivers over the next few years with its large current market opportunity.