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Pegasystems Inc Down 12.07% To $41.81 After Earnings Miss

Thursday, July 28, 2022 11:39 AM | InvestorsObserver Analysts
Pegasystems Inc Down 12.07% To $41.81 After Earnings Miss

Pegasystems Inc (PEGA) said after close Wednesday that it lost $0.38 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $274.3 million, missing estimates by $73.2 million.

In the same quarter a year ago, the company earned $0.23 per share on revenue of $325.7 million.

The stock is down 12.07% to $41.81 after the report.

Pegasystems Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Pegasystems Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 22. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Founded in 1983, Pegasystems provides a suite of solutions for customer engagement and business process automation. The company's key offering is the Pega Infinity platform, which combines business process automation with customer engagement applications.

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