Pagaya Technologies (NASDAQ:PGY) Releases Quarterly Earnings Results

Key Points

• Pagaya Technologies reported a quarterly EPS of $0.20, missing the consensus estimate of $0.62, while revenue increased by 31% year-over-year, reaching $326.40 million.
• The company has a negative net margin of 34.57% but achieved a positive return on equity of 9.28% for the quarter.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with an average target price of $26.70, following recent price upgrades from various analysts.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.42), Briefing.com reports. Pagaya Technologies had a negative net margin of 34.57% and a positive return on equity of 9.28%. The business had revenue of $326.40 million during the quarter, compared to analyst estimates of $299.26 million. During the same quarter in the prior year, the company earned ($1.04) earnings per share. The firm's revenue for the quarter was up 31.0% compared to the same quarter last year. Pagaya Technologies updated its FY 2025 guidance to EPS and its Q3 2025 guidance to EPS.

Pagaya Technologies Price Performance

PGY opened at $30.62 on Friday. The company's 50 day simple moving average is $23.54 and its 200 day simple moving average is $15.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.79 and a current ratio of 1.79. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $41.48. The stock has a market capitalization of $2.32 billion, a PE ratio of -6.04 and a beta of 5.95.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Oppenheimer boosted their price target on Pagaya Technologies from $16.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Pagaya Technologies from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Stephens initiated coverage on shares of Pagaya Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $22.00 target price on the stock. Wall Street Zen upgraded shares of Pagaya Technologies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Citigroup boosted their price objective on shares of Pagaya Technologies from $16.50 to $40.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.70.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, Director Dan Petrozzo sold 8,484 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $30.15, for a total transaction of $255,792.60. Following the transaction, the director owned 96,278 shares of the company's stock, valued at $2,902,781.70. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tami Rosen sold 13,821 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $21.85, for a total transaction of $301,988.85. Following the sale, the insider directly owned 35,619 shares of the company's stock, valued at $778,275.15. This represents a 27.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,353,907 shares of company stock valued at $24,585,322 in the last quarter. Insiders own 47.59% of the company's stock.

Institutional Investors Weigh In On Pagaya Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Pagaya Technologies by 2,722.3% during the first quarter. AQR Capital Management LLC now owns 305,710 shares of the company's stock worth $3,204,000 after buying an additional 294,878 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Pagaya Technologies by 11.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,288 shares of the company's stock valued at $653,000 after acquiring an additional 6,365 shares in the last quarter. Millennium Management LLC boosted its position in Pagaya Technologies by 320.1% during the 1st quarter. Millennium Management LLC now owns 1,262,413 shares of the company's stock worth $13,230,000 after purchasing an additional 961,944 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Pagaya Technologies by 26.7% in 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. 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.

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