Pegasystems Inc (NASDAQ:PEGA) reported worse-than-expected second-quarter financial results, after the closing bell on Tuesday.Pegasystems reported quarterly earnings of 35 cents per share which missed the analyst consensus estimate of 43 cents per share. The company reported quarterly sales of $420.716 million which missed the analyst consensus estimate of $426.601 million.Pegasystems shares fell 1.3% to $25.65 in pre-market trading.These analysts made changes to their price targets on Pegasystems following earnings announcement.
Loop Capital analyst Yun Kim downgraded the stock from Buy to Hold and lowered the price target from $55 to $25.
Rosenblatt analyst Blair Abernethy maintained the stock with a Buy and cut the price target from $58 to $47.
Keybanc analyst Devin Au downgraded the stock from Overweight to Sector Weight.
William Blair analyst Jake Roberge downgraded Pegasystems from Outperform to Market Perform.
