Brokerages Set Pagaya Technologies Ltd. (NASDAQ:PGY) PT at $20.61

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $20.61.

A number of brokerages have recently weighed in on PGY. B. Riley reiterated a “buy” rating and issued a $36.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Thursday, February 13th. UBS Group began coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They issued a “neutral” rating and a $11.00 target price for the company. Citigroup upgraded shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $14.50 in a report on Friday, February 7th. Finally, Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th.

Pagaya Technologies Stock Performance

Pagaya Technologies stock opened at $11.56 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $870.44 million, a P/E ratio of -2.10 and a beta of 5.98. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $19.20. The firm’s 50 day simple moving average is $11.51 and its 200-day simple moving average is $10.93.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.32). The firm had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, equities research analysts predict that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Activity at Pagaya Technologies

In other news, CFO Evangelos Perros sold 21,305 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $9.97, for a total value of $212,410.85. Following the completion of the sale, the chief financial officer now directly owns 54,029 shares in the company, valued at approximately $538,669.13. The trade was a 28.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tami Rosen sold 35,369 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total transaction of $530,535.00. Following the transaction, the insider now directly owns 38,181 shares of the company’s stock, valued at approximately $572,715. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,692 shares of company stock valued at $1,205,379. Insiders own 49.56% of the company’s stock.

Institutional Trading of Pagaya Technologies

A number of hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position in shares of Pagaya Technologies by 5.4% in the 4th quarter. California State Teachers Retirement System now owns 35,771 shares of the company’s stock worth $332,000 after acquiring an additional 1,848 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Pagaya Technologies during the fourth quarter worth $105,000. Jefferies Financial Group Inc. acquired a new stake in Pagaya Technologies during the fourth quarter worth $93,000. PharVision Advisers LLC bought a new stake in Pagaya Technologies in the 4th quarter valued at $109,000. Finally, Voloridge Investment Management LLC raised its stake in shares of Pagaya Technologies by 200.9% in the 4th quarter. Voloridge Investment Management LLC now owns 149,978 shares of the company’s stock valued at $1,393,000 after buying an additional 100,127 shares in the last quarter. 57.14% of the stock is owned by institutional investors.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.