Why Pegasystems Stock Was Soaring Today

Shares of Pegasystems (PEGA 30.28%) were surging higher Thursday after the low-code software company breezed past estimates in its fourth-quarter earnings report.As of 1 p.m. ET, the stock was up 31.9%. How Pegasystems wowed the marketPegasystems' revenue growth accelerated from earlier in the year to 20%, reaching $474.2 million, which was much better than the consensus estimate of $413.6 million. Growth in annual contract value increased 11% to $1.26 billion as the company is seeing demand for AI products ...