UPDATE: Loop Capital Initiates Pegasystems (PEGA) at Buy

(Updating comment)

Loop Capital analyst Yun Kim starts Pegasystems (NASDAQ: PEGA) at Buy, PT $150.00.

The analyst comments "We believe PEGA is well positioned to benefit from the current long-term secular trend around digital transformation. Large organizations are in the early stage of undergoing multi-year, technology-driven changes to their organizations and their processes so that they can quickly adapt to changing business requirements and remain competitive. IT needs automated solutions that can integrate disparate sets of applications across multiple clouds and on-premise environments while leveraging existing assets. This approach to digital transformation has become more evident in today’s spending environment, in which COVID has fundamentally changed many of PEGA customers' businesses and their need to quickly adapt to these changing business requirements. Simply put, we believe PEGA is one of the best ways to play the current digital transformation secular trend."

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