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Fly News Breaks for August 10, 2017
PEGA
Aug 10, 2017 | 09:26 EDT
Benchmark analyst Mark Schappel said Pegasystems' hybrid revenue model of term and perpetual licenses makes its results hard to track quarter-to-quarter, which he attributes for the company's Q2 miss compared to consensus estimates. However, he said license and cloud backlog increases and term license and cloud ACV growth suggest that Pegasystems' business is solid and he recommends buying shares on any post-earnings weakness. Schappel keeps a Buy rating and $67 price target on the stock.
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