Pagaya Technologies (NASDAQ:PGY) Earns Buy Rating from Benchmark

Pagaya Technologies (NASDAQ:PGY - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports. They presently have a $22.00 price target on the stock. Benchmark's price target indicates a potential upside of 73.50% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group reiterated a "buy" rating and set a $42.00 price objective on shares of Pagaya Technologies in a research report on Thursday. Wedbush reduced their price objective on Pagaya Technologies from $18.00 to $11.50 and set a "neutral" rating on the stock in a research note on Friday, March 15th. Finally, JMP Securities lowered their price objective on Pagaya Technologies from $30.00 to $25.00 and set a "market outperform" rating for the company in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.75.

Pagaya Technologies Price Performance

PGY traded up $0.08 during trading on Friday, hitting $12.68. 1,586,568 shares of the company traded hands, compared to its average volume of 1,231,704. The company has a market cap of $66.57 million, a PE ratio of -5.79 and a beta of 6.55. Pagaya Technologies has a 1 year low of $8.56 and a 1 year high of $33.96. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 0.49. The stock's 50-day simple moving average is $11.12 and its two-hundred day simple moving average is $14.00.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.19). Pagaya Technologies had a negative return on equity of 7.91% and a negative net margin of 16.22%. The firm had revenue of $237.00 million during the quarter, compared to the consensus estimate of $229.45 million. During the same period last year, the firm posted ($0.48) earnings per share. As a group, sell-side analysts anticipate that Pagaya Technologies will post -0.17 earnings per share for the current fiscal year.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, CEO Gal Krubiner purchased 33,600 shares of the stock in a transaction on Thursday, April 4th. The shares were bought at an average cost of $10.36 per share, with a total value of $348,096.00. Following the completion of the acquisition, the chief executive officer now owns 523,076 shares in the company, valued at $5,419,067.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Pagaya Technologies news, CEO Gal Krubiner acquired 33,600 shares of the business's stock in a transaction dated Thursday, April 4th. The stock was acquired at an average cost of $10.36 per share, for a total transaction of $348,096.00. Following the completion of the transaction, the chief executive officer now directly owns 523,076 shares of the company's stock, valued at $5,419,067.36. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Sanjiv Das acquired 22,727 shares of the business's stock in a transaction on Friday, April 5th. The shares were purchased at an average price of $10.57 per share, with a total value of $240,224.39. Following the completion of the purchase, the president now owns 22,727 shares in the company, valued at approximately $240,224.39. The disclosure for this purchase can be found here. Insiders purchased 194,807 shares of company stock valued at $2,012,373 in the last three months.

Institutional Trading of Pagaya Technologies

Hedge funds have recently made changes to their positions in the business. MBE Wealth Management LLC purchased a new position in shares of Pagaya Technologies in the 4th quarter valued at about $31,000. Pathstone Family Office LLC purchased a new position in Pagaya Technologies in the third quarter valued at approximately $32,000. Acadian Asset Management LLC acquired a new stake in Pagaya Technologies during the 3rd quarter worth $38,000. Fermata Advisors LLC purchased a new stake in Pagaya Technologies in the third quarter valued at $38,000. Finally, Deuterium Capital Management LLC acquired a new position in Pagaya Technologies in the third quarter valued at $40,000. 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.