William Blair initiates Pegasystems with 'market perform' on competitive moat

Pegasystems

09/03/2023 12:58

** William Blair initiates coverage on enterprise software
firm Pegasystems Inc  PEGA.O  with a "market perform" rating 
    ** Brokerage says PEGA has developed a competitive moat for
its platform in the enterprise intelligent automation and
customer engagement markets
    ** Adds PEGA remains set to benefit from digital
transformation themes and shifting consumer preferences toward
digital interactions
    ** "We believe Pegasystems’ hyperfocus on its core markets
has helped the company develop deep vertical expertise" -
William Blair
    ** Five brokerages rate the stock "buy" or higher, 9 "hold"
and 1 "sell" or lower; their median PT is $50
    ** PEGA up 38.76% YTD

 (Reporting by Aniruddha Ghosh in Bengaluru)
 ((Aniruddha.Ghosh@thomsonreuters.com; 91 83 83 81 2416;))