Pegasystems (PEGA) Moves 6.6% Higher: Will This Strength Last?

Pegasystems PEGA shares ended the last trading session 6.6% higher at $100. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3% loss over the past four weeks.The optimism surrounding the stock can primarily be attributed to the growing demand for Pegasystems solutions. The company’s strong platform and extensive artificial intelligence (AI) portfolio, enabling world-class businesses to attain transformative outcomes through real-time optimization, distinguishes it in the market. Its distinctive AI approach, Pega GenAI Blueprint, is a major driver of PEGA's expansion by showing clients how they can accelerate their digital transformation and achieve complete autonomy.This business software company is expected to post quarterly earnings of $1.51 per share in its upcoming report, which represents a year-over-year change of -14.7%. Revenues are expected to be $485.93 million, up 2.5% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Pegasystems, the consensus EPS estimate for the quarter has been revised 11.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PEGA going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Pegasystems is a member of the Zacks Computer - Software industry. One other stock in the same industry, ACI Worldwide ACIW, finished the last trading session 2.1% higher at $53.48. ACIW has returned -2.6% over the past month.For ACI Worldwide, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.79. This represents a change of -37.8% from what the company reported a year ago. ACI Worldwide currently has a Zacks Rank of #3 (Hold).Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pegasystems Inc. (PEGA): Free Stock Analysis Report ACI Worldwide, Inc. (ACIW): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks