Pegasystems price target lowered to $85 from $115 at Loop Capital

Loop Capital lowered the firm’s price target on Pegasystems (PEGA) to $85 from $115 and keeps a Buy rating on the shares ahead of its results next week. Q1 performance should be “fine”, but the firm cites free cash flow growth for the company being “less visible” in the second half of the year, even though Pegasystems is poised to benefit from upside optionality from its GenAI Blueprint solution, the analyst tells investors in a research note.