Pegasystems Inc (NASDAQ:PEGA) reported worse-than-expected second-quarter financial results, after the closing bell on Tuesday.
Pegasystems reported quarterly earnings of 35 cents per share which missed the analyst consensus estimate of 43 cents per share. The company reported quarterly sales of $420.716 million which missed the analyst consensus estimate of $426.601 million.
“Pega Infinity 26 uniquely deploys the power of AI with predictable outcomes and predicable costs by applying agents at design time to optimize run-time token use,” said Alan Trefler, founder and CEO, Pega. “Letting language models do everything is risky and expensive, and using AI to write mountains of code creates significant barriers to the ongoing change that enterprise clients require. Pega structures business applications in a way that makes sense to business and IT to Build for Change.”
Pegasystems shares fell 1.3% to $25.65 in pre-market trading.
These analysts made changes to their price targets on Pegasystems following earnings announcement.
- Loop Capital analyst Yun Kim downgraded the stock from Buy to Hold and lowered the price target from $55 to $25.
- Rosenblatt analyst Blair Abernethy maintained the stock with a Buy and cut the price target from $58 to $47.
- Keybanc analyst Devin Au downgraded the stock from Overweight to Sector Weight.
- William Blair analyst Jake Roberge downgraded Pegasystems from Outperform to Market Perform.
Considering buying PEGA stock? Here’s what analysts think:
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