Pegasystems upcoming GenAI features complement current product, says DA Davidson

DA Davidson keeps a Neutral rating and $48 price target on Pegasystems after attending the company’s PegaWorld iNspire 2023 in Las Vegas. The company’s forthcoming “Pega GenAI” features in this summer’s Infinity ’23 release is harmonious with the company’s goal to drive ACV growth amongst existing large enterprise clients, the analyst tells investors in a research note. The features also complement the company’s existing AI capabilities well and offers substantial value-creation for the enterprise client, the firm added.