In a welcome move, Pegasystems saw its Relative Strength Rating improve from 69 to 74 on Wednesday.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the best stocks often have an RS Rating of over 80 in the early stages of their moves. See if Pegasystems can continue to show renewed price strength and clear that threshold.
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While the stock is not near a proper buy point right now, see if it manages to form and break out from a proper chart pattern.
Earnings grew -9% last quarter, up from -11% in the prior report. Revenue also increased, from -3% to 4%.
The company earns the No. 22 rank among its peers in the Computer Software-Financial industry group. Clearwater Analytics, ACI Worldwide and Intapp are among the top 5 highly rated stocks within the group.
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