Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine ratings firms that are 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 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.61.

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

Pagaya Technologies Stock Performance

Shares of PGY stock opened at $14.96 on Wednesday. The stock has a market cap of $1.13 billion, a PE ratio of -2.72 and a beta of 5.88. The business has a 50-day simple moving average of $10.83 and a 200-day simple moving average of $10.78. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. Pagaya Technologies has a 52-week low of $8.20 and a 52-week high of $19.20.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued 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 company had revenue of $279.39 million during the quarter, compared to analyst estimates 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 period last year, the firm earned $0.24 EPS. On average, equities analysts expect that Pagaya Technologies will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other news, President Sanjiv Das sold 12,789 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $9.35, for a total transaction of $119,577.15. Following the transaction, the president now directly owns 105,817 shares in the company, valued at $989,388.95. The trade was a 10.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Yahav Yulzari sold 238,004 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.16, for a total value of $3,608,140.64. Following the transaction, the insider now owns 4,346,141 shares in the company, valued at approximately $65,887,497.56. This represents a 5.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 523,910 shares of company stock worth $7,862,512. Corporate insiders own 49.56% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PGY. Frontier Capital Management Co. LLC acquired a new position in shares of Pagaya Technologies during the 4th quarter worth approximately $28,070,000. Point72 Asset Management L.P. boosted its holdings in shares of Pagaya Technologies by 284.3% during the 4th quarter. Point72 Asset Management L.P. now owns 1,198,398 shares of the company's stock worth $11,133,000 after purchasing an additional 886,539 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Pagaya Technologies by 359.6% during the 4th quarter. Two Sigma Investments LP now owns 826,119 shares of the company's stock worth $7,675,000 after purchasing an additional 646,357 shares during the last quarter. Nuveen LLC acquired a new position in shares of Pagaya Technologies during the 1st quarter worth approximately $6,465,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Pagaya Technologies by 310.6% during the 4th quarter. JPMorgan Chase & Co. now owns 625,351 shares of the company's stock worth $5,810,000 after purchasing an additional 473,063 shares during the last quarter. 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.

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