Why Pegasystems Stock Fell Hard Today

Shares of Pegasystems (NASDAQ: PEGA), a low-code platform provider, were plummeting today after the company reported disappointing second-quarter results. Sales and earnings both fell below analysts' consensus estimates, which spurred one analyst to downgrade Pegasystems' stock today.

The tech stock was down by 13.8% as of 2:38 p.m. ET on Thursday.

Pegasystems reported an adjusted loss of $0.38 per share, down from earnings of $0.25 in the year-ago quarter and far below Wall Street's average estimate of a profit of $0.11 per share.

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Source Fool.com