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

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.61.

Several research firms have weighed in on PGY. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a report on Thursday, February 13th. JMP Securities raised their price target on Pagaya Technologies from $25.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. B. Riley reaffirmed a “buy” rating and set a $36.00 target price on shares of Pagaya Technologies in a research report on Monday, March 17th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $14.50 in a research report on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th.

Pagaya Technologies Stock Performance

NASDAQ:PGY opened at $14.30 on Wednesday. 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 12-month low of $8.20 and a 12-month high of $19.20. The stock has a 50-day moving average price of $11.10 and a 200 day moving average price of $10.84. The stock has a market capitalization of $1.08 billion, a P/E ratio of -2.60 and a beta of 5.88.

Pagaya Technologies (NASDAQ:PGY) last released 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). The firm had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same quarter in the prior year, the business earned $0.24 EPS. Equities research analysts forecast that Pagaya Technologies will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling at Pagaya Technologies

In related news, insider Yahav Yulzari sold 238,004 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $15.16, for a total value of $3,608,140.64. Following the completion of the sale, the insider now owns 4,346,141 shares of the company’s stock, valued at approximately $65,887,497.56. The trade was a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Avital Pardo sold 237,748 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.16, for a total value of $3,604,259.68. Following the completion of the transaction, the chief technology officer now owns 2,401,528 shares in the company, valued at approximately $36,407,164.48. This trade represents a 9.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 488,541 shares of company stock worth $7,331,977. 47.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PGY. R Squared Ltd acquired a new stake in Pagaya Technologies during the fourth quarter worth $30,000. Virtus Advisers LLC acquired a new stake in Pagaya Technologies during the first quarter worth $35,000. GAMMA Investing LLC increased its stake in Pagaya Technologies by 5,431.3% during the first quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock worth $46,000 after acquiring an additional 4,345 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Pagaya Technologies during the fourth quarter worth $43,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Pagaya Technologies during the fourth quarter worth $57,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

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.