Dougherty & Co Raises Pegasystems (PEGA) Price Target to $35

March 13, 2013 1:12 PM EDT Send to a Friend
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Price: $21.19 +0.43%

Rating Summary:
    2 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 17
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Dougherty & Co today maintained a Buy rating on Pegasystems (NASDAQ: PEGA) and raised its price target to $35.00 (from $26.00).

"While Pegasystems license revenue may remain lumpy and hence, quarterly operating results may remain volatile, at less than 2.0x EV/2014 sales, we find risk/reward compelling, considering that Pegasystems is one of the few enterprise software companies with midā€teens license revenue growth potential," said analyst Raghavan Sarathy.

For an analyst ratings summary and ratings history on Pegasystems click here. For more ratings news on Pegasystems click here.

Shares of Pegasystems closed at $28.58 yesterday.


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