Pagaya Technologies (NASDAQ:PGY) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Pagaya Technologies has received a significant price target increase from Keefe, Bruyette & Woods, raising it from $27.00 to $38.00, indicating a potential upside of 24.10% from its previous close.
• Multiple analysts have recently upgraded their ratings and price targets for Pagaya Technologies, with Citigroup setting a target at $40.00 and JMP Securities at $26.00.
• Pagaya Technologies reported a revenue increase of 31.0% year-over-year, totaling $326.40 million for the latest quarter, despite missing earnings per share estimates and having a negative net margin.

Pagaya Technologies (NASDAQ:PGY - Free Report) had its target price upped by Keefe, Bruyette & Woods from $27.00 to $38.00 in a research report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on PGY. Oppenheimer increased their target price on shares of Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. JMP Securities reissued a "market outperform" rating and set a $26.00 target price on shares of Pagaya Technologies in a report on Tuesday, June 24th. Benchmark increased their target price on shares of Pagaya Technologies from $25.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wall Street Zen raised shares of Pagaya Technologies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Stephens started coverage on shares of Pagaya Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $28.40.

Pagaya Technologies Stock Down 6.4%

NASDAQ PGY traded down $1.95 during trading hours on Friday, reaching $28.67. 5,945,459 shares of the company traded hands, compared to its average volume of 3,731,213. Pagaya Technologies has a 12 month low of $8.20 and a 12 month high of $41.48. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $2.17 billion, a PE ratio of -7.49 and a beta of 5.95. The company has a 50 day moving average of $23.78 and a two-hundred day moving average of $16.06.

Insiders Place Their Bets

In related news, President Sanjiv Das sold 12,742 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $25.95, for a total value of $330,654.90. Following the sale, the president owned 98,562 shares of the company's stock, valued at $2,557,683.90. This trade represents a 11.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Evangelos Perros sold 12,755 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $22.57, for a total transaction of $287,880.35. Following the completion of the sale, the chief financial officer directly owned 82,870 shares in the company, valued at approximately $1,870,375.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,353,907 shares of company stock worth $24,585,322. 47.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Several large investors have recently bought and sold shares of the stock. Frontier Capital Management Co. LLC acquired a new position in Pagaya Technologies during the 4th quarter valued at about $28,070,000. Goldman Sachs Group Inc. boosted its position in shares of Pagaya Technologies by 26.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,705,245 shares of the company's stock valued at $17,871,000 after purchasing an additional 359,099 shares in the last quarter. Millennium Management LLC boosted its position in shares of Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock valued at $13,230,000 after purchasing an additional 961,944 shares in the last quarter. Point72 Asset Management L.P. boosted its position 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 valued at $11,133,000 after purchasing an additional 886,539 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position 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 valued at $7,675,000 after purchasing an additional 646,357 shares in the last quarter. 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.