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Fly News Breaks for February 13, 2020
PEGA
Feb 13, 2020 | 08:57 EDT
DA Davidson analyst Rishi Jaluria raised his price target on Pegasystems to $105 and kept his Buy rating after its Q4 results, noting that while its earnings missed consensus, the quarter saw accelerating growth in its Annual Contract Value, or ACV, metric. The analyst notes that the company's 2020 is expected to be a lot "cleaner" with improving margins and ACV growth rate closer to its revenue growth. Jaluria adds that Pegasystems' sales hiring has accelerated "meaningfully" and he expects that growth to exceed ACV growth next year.
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