Why Pegasystems Stock Dove 12% Today
Pegasystems (NASDAQ: PEGA) shareholders lost ground to the market on Thursday as the stock dropped 12% by 12:30 p.m. ET. The cloud software specialist announced a fiscal 2022 outlook that landed with a thud for investors who were looking for an aggressive growth forecast.
Pegasystems said late Wednesday that sales rose 6% through late December, which was a bit weaker than most investors expected. Revenue had been expanding by 25% through the first nine months of the year.
Source Fool.com