Pegasystems (PEGA) Delivers Another Strong Quarter - Is This AI Stock Back on Track?

Pegasystems Inc. (NASDAQ:PEGA) is one of the Trending AI Stocks on Wall Street. On July 24, Barclays raised the firm’s price target on the stock to $58 from $50 and kept an “Equal Weight” rating on the shares.

The firm described Pega’s recent quarter as “another quarter of above-consensus growth.” Pega reported a remarkable revenue growth of 12.5% and maintained a strong gross margin of 75.5%, marking the second consecutive quarter of above-consensus performance.

The firm quoted that Q2 was “almost better compared to Q1 when looking at the quality of the beat.” Moreover, it believes that it is getting clear that the genAI Blueprint offering is “starting to work well as a demand generation tool.”

Nevertheless, the rating is kept at Equal Weight as the firm looks more into the ultimate total addressable market and also at Appian’s lawsuit.

Pegasystems Inc. (NASDAQ:PEGA) develops, markets, licenses, hosts, and supports enterprise software.

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