Pegasystems price target raised to $75 from $70 at Wedbush

Wedbush raised the firm’s price target on Pegasystems (PEGA) to $75 from $70 and keeps an Outperform rating on the shares. The firm notes the company reported its Q3 earnings, which featured strong beats on the top and bottom-lines along with ACV growth coming in ahead of expectations which will be viewed positively by the Street driven by the company continuing to see significant traction of Blueprint that is accelerating Pega Cloud ACV growth. Wedbush cites a higher multiple and increased confidence in the Pegasystems growth story heading into the end of 2025 for the target change.