RBC Capital analyst Rishi Jaluria raised the firm’s price target on Pegasystems to $77 from $65 and keeps an Outperform rating on the shares after its “strong” Q4 results. The headline for the quarter was the “meaningful upside” in profitability as 2024 guidance calls for free cash flow growth of 75% on 23% margins, the analyst tells investors in a research note. RBC adds that it was encouraged to see Pega Cloud ACV growth reaccelerate with record net new ACV on strong year-end bookings.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PEGA:
- Pegasystems (NASDAQ:PEGA) Blasts Up after Amazing Earnings Report
- Pegasystems sees FY24 adjusted EPS $2.75, consensus $2.43
- Pegasystems reports Q4 adjusted EPS $1.77, consensus $1.00
- Pegasystems Introduces Performance-Based Incentive Plan for Executives
- PEGA Earnings Report this Week: Is It a Buy, Ahead of Earnings?
