Benchmark Reiterates Buy Rating for Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating reissued by Benchmark in a research report issued on Monday,Benzinga reports. They presently have a $25.00 price target on the stock. Benchmark’s target price suggests a potential upside of 120.26% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Thursday, February 13th. UBS Group started coverage on shares of Pagaya Technologies in a report on Friday, December 20th. They set a “neutral” rating and a $11.00 price objective for the company. JMP Securities boosted their price objective on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Finally, Citigroup raised shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.61.

Pagaya Technologies Stock Performance

Pagaya Technologies stock opened at $11.35 on Monday. 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 firm has a market capitalization of $836.00 million, a P/E ratio of -2.06 and a beta of 5.98. Pagaya Technologies has a 1-year low of $8.20 and a 1-year high of $19.20. The company’s 50-day moving average is $11.11 and its 200 day moving average is $10.97.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings results 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). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The business had revenue of $279.39 million during the quarter, compared to analysts’ expectations of $264.28 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. Research analysts forecast that Pagaya Technologies will post 0.88 EPS for the current year.

Insider Buying and Selling at Pagaya Technologies

In other news, President Sanjiv Das sold 6,343 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.97, for a total value of $63,239.71. Following the completion of the transaction, the president now directly owns 75,528 shares of the company’s stock, valued at approximately $753,014.16. The trade was a 7.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tami Rosen sold 35,369 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $15.00, for a total value of $530,535.00. Following the sale, the insider now owns 38,181 shares of the company’s stock, valued at $572,715. This trade represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,692 shares of company stock valued at $1,205,379. Company insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Pagaya Technologies by 502.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,288 shares of the company’s stock valued at $1,610,000 after buying an additional 127,012 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Pagaya Technologies by 4,374.9% during the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after acquiring an additional 304,890 shares during the last quarter. Centiva Capital LP acquired a new stake in Pagaya Technologies in the third quarter valued at approximately $617,000. IFP Advisors Inc grew its holdings in Pagaya Technologies by 80.7% in the fourth quarter. IFP Advisors Inc now owns 13,265 shares of the company’s stock worth $123,000 after purchasing an additional 5,925 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Pagaya Technologies by 17.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 111,991 shares of the company’s stock worth $1,184,000 after purchasing an additional 16,533 shares during the last quarter. 57.14% of the stock is currently 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.