Pegasystems (PEGA) is expected to report "strong" Q3 results supported by its Blueprint Agentic AI product, which is gaining traction with new and existing customers, Wedbush said in a report Monday.

Wall Street's Q3 forecasts of $351.5 million in revenue and $0.20 in earnings per share are "conservative," as Pegasystems' Blueprint is driving additional growth - mainly from existing customers, with rising potential from new ones, the analysts said.

Wedbush said it kept Pegasystems on its best ideas list as it views the company as "an under-the-radar AI play."

The firm maintained an outperform rating on the stock with a $70 price target.

Pegasystems is due to report Q3 results after the close on Tuesday.

Shares of Pegasystems were up more than 2% in recent Monday trading.

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