Market Overview

UPDATE: Benchmark Company Reiterates Hold Rating, Lowers PT on Pegasystems

Related PEGA
Mid-Day Market Update: Nu Skin Dips On Weak Forecast; EOG Resources Shares Jump
Will Pegasystems (PEGA) Continue to Surge Higher? - Tale of the Tape
RHT, ADSK, TDC, others among big enterprise tech decliners as Tableau/LinkedIn plunge (Seeking Alpha)

In a report published Friday, Benchmark Company reiterated its Hold rating on Pegasystems (NASDAQ: PEGA), but lowered its price target to $21.00.

Benchmark noted, “Last night, PEGA reported 3Q results below unguided consensus estimates for both revenue and EPS. While not providing explicit forward guidance, management suggested that it will be difficult to hit its initial 2012 targets, so we are lowering our estimates for the rest of the year and 2013. The general operating parameters that sparked our downgrade following 2Q were in evidence in the 3Q miss: slowness in Europe (32% of 3Q sales), continued choppiness in financial services (about 50% of sales), customers reluctant to commit to large deals and a license mix trending towards term licenses, which pressures near-term revenue growth.”

Pegasystems closed on Thursday at $20.14.

Latest Ratings for PEGA

Feb 2015MerrimanDowngradesBuyNeutral
Aug 2014Merriman CapitalUpgradesNeutralBuy
Jul 2014Merriman CapitalDowngradesBuyNeutral

View More Analyst Ratings for PEGA
View the Latest Analyst Ratings

Posted-In: Benchmark CompanyAnalyst Color Price Target Analyst Ratings


Related Articles (PEGA)

Get Benzinga's Newsletters