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

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine research firms that are covering the stock, Marketbeat Ratings 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 analysts that have updated their coverage on the stock in the last year is $20.61.

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

Pagaya Technologies Stock Up 4.5 %

Shares of NASDAQ PGY traded up $0.46 during midday trading on Friday, reaching $10.57. The company's stock had a trading volume of 354,988 shares, compared to its average volume of 1,762,951. The stock has a 50 day simple moving average of $11.19 and a 200-day simple moving average of $10.67. Pagaya Technologies has a fifty-two week low of $8.20 and a fifty-two week high of $19.20. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $795.67 million, a price-to-earnings ratio of -1.93 and a beta of 5.89.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.32). The business had revenue of $279.39 million during the quarter, compared to the consensus estimate 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 company earned $0.24 EPS. Equities research analysts predict that Pagaya Technologies will post 0.88 earnings per share for the current year.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction dated Thursday, April 17th. The stock was 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 $989,388.95. The trade was a 10.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tami Rosen sold 9,846 shares of Pagaya Technologies stock in a transaction on Friday, February 7th. The shares were sold at an average price of $12.18, for a total transaction of $119,924.28. Following the completion of the sale, the insider now directly owns 73,550 shares of the company's stock, valued at approximately $895,839. The trade was a 11.81 % 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. Corporate insiders own 49.56% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. R Squared Ltd bought a new stake in shares of Pagaya Technologies in the 4th quarter worth $30,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $43,000. GAMMA Investing LLC boosted its stake in shares of Pagaya Technologies by 5,431.3% in the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company's stock worth $46,000 after buying an additional 4,345 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Pagaya Technologies in the fourth quarter valued at approximately $57,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Pagaya Technologies during the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 57.14% of the company's stock.

About Pagaya Technologies

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.