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

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.61.

A number of equities research analysts recently commented on the company. B. Riley reiterated a “buy” rating and issued a $36.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Thursday, February 13th. Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Pagaya Technologies in a report on Monday, March 17th. Finally, JMP Securities boosted their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th.

Pagaya Technologies Stock Performance

Shares of NASDAQ:PGY opened at $8.98 on Friday. The stock has a market capitalization of $676.18 million, a P/E ratio of -1.63 and a beta of 5.89. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies has a 1-year low of $8.20 and a 1-year high of $19.20. The business has a 50-day moving average price of $11.40 and a two-hundred day moving average price of $10.68.

Pagaya Technologies (NASDAQ:PGY) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $264.28 million. During the same period last year, the firm earned $0.24 earnings per share. Equities analysts predict that Pagaya Technologies will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In other Pagaya Technologies news, insider Tami Rosen sold 35,369 shares of the business’s stock in a transaction that occurred 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 owns 38,181 shares of the company’s stock, valued at $572,715. The trade was a 48.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Sanjiv Das sold 12,789 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $9.35, for a total value of $119,577.15. Following the completion of the sale, the president now directly owns 105,817 shares of the company’s stock, valued at approximately $989,388.95. The trade was a 10.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,004 shares of company stock valued at $770,036. Company insiders own 49.56% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Several hedge funds have recently bought and sold shares of PGY. R Squared Ltd bought a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $30,000. GAMMA Investing LLC raised its position in shares of Pagaya Technologies by 5,431.3% in the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock valued at $46,000 after purchasing an additional 4,345 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Pagaya Technologies during the 4th quarter worth about $43,000. Nisa Investment Advisors LLC bought a new stake in shares of Pagaya Technologies during the 4th quarter worth about $57,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Pagaya Technologies in the 4th quarter valued at about $67,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

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.