Why Pegasystems Inc. Stock Dropped Today
Shares of Pegasystems Inc. (NASDAQ: PEGA) fell as much as 14.8% early Thursday, then partially recovered to trade down 9% as of 1 p.m. EST after the customer-engagement software specialist announced disappointing third-quarter 2017 results.
More specifically, Pegasystems' quarterly revenue declined 2% year over year to $179.8 million, which translated to a 68% decline in adjusted (non-GAAP) net income to $4.2 million, or $0.05 per diluted share. Both the top and bottom lines fell far short of investors' expectations for earnings of $0.18 per share on revenue of $201.4 million.
Image source: Pegasystems.
Source: Fool.com
Pegasystems Stock
€27.49
-2.320%
With 23 Buy predictions and not a single Sell prediction Pegasystems is an absolute favorite of our community.
As a result the target price of 53 € shows a very positive potential of 92.8% compared to the current price of 27.49 € for Pegasystems.
