Pegasystems Sees Reacceleration in H2 on Backlog Growth, Higher Cash Generation, Wedbush Says

MT Newswires Live04-23

Pegasystems (PEGA) expects to see a reacceleration in the second half of the year on backlog growth and higher cash generation despite its recent first-quarter results missing Wall Street estimates on the top and bottom lines, Wedbush said in a Thursday research report.

Pega Cloud annual contract value in Q1 fell short of consensus at $906.7 million as the company shifts its ACV mix to the cloud, according to the note.

Blueprint is accelerating conversion to Pega Cloud and driving incremental opportunities to the pipeline, expected to help the company outperform throughout 2026, Wedbush stated.

The brokerage said it reiterated its outperform rating on the stock and price target of $60 per share.

Price: 35.09, Change: -2.39, Percent Change: -6.38

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