Canaccord Genuity Reiterates a 'Buy' on Pegasystems (PEGA); PegaWORLD: BPM Leadership on Display
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Price: $33.56 -0.15%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Pegasystems (NASDAQ: PEGA), PT $44.
Canaccord analyst, Richard Davis, says, "Yesterday we attended PegaWORLD 2011 in Orlando, Florida, with 1,600 customers, partners and employees. We leave the event confident in the company’s market position, product portfolio, and go-to-market strategy. While precisely forecasting the firm’s business into 90-day increments remains a challenge (as customers dictate the preferred licensing model – term or perpetual – and management does not drive the business to quarterly targets), we have little doubt that Pegasystems should be able to grow license revenues at least in the mid- to high-teens for several more years. If we are correct, PEGA shares should advance at least as fast as the firm’s 25%+ intermediate term earnings growth forecasts, which would make the stock an attractive asset for investors who can manage the periodic quarterly volatility."
For more ratings news on Pegasystems click here and for the rating history of Pegasystems click here.
Shares of Pegasystems closed at $35.78 yesterday.
Canaccord analyst, Richard Davis, says, "Yesterday we attended PegaWORLD 2011 in Orlando, Florida, with 1,600 customers, partners and employees. We leave the event confident in the company’s market position, product portfolio, and go-to-market strategy. While precisely forecasting the firm’s business into 90-day increments remains a challenge (as customers dictate the preferred licensing model – term or perpetual – and management does not drive the business to quarterly targets), we have little doubt that Pegasystems should be able to grow license revenues at least in the mid- to high-teens for several more years. If we are correct, PEGA shares should advance at least as fast as the firm’s 25%+ intermediate term earnings growth forecasts, which would make the stock an attractive asset for investors who can manage the periodic quarterly volatility."
For more ratings news on Pegasystems click here and for the rating history of Pegasystems click here.
Shares of Pegasystems closed at $35.78 yesterday.
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