Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $24.00 Consensus Target Price from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.00.

A number of equities research analysts have issued reports on the company. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Pagaya Technologies in a research note on Monday, August 12th. Benchmark began coverage on Pagaya Technologies in a research report on Monday, August 26th. They set a “buy” rating and a $21.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $25.00 price objective on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Citigroup started coverage on Pagaya Technologies in a report on Friday, May 24th. They set a “neutral” rating and a $14.00 target price for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $42.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th.

Pagaya Technologies Stock Down 2.0 %

Shares of NASDAQ PGY opened at $12.16 on Friday. The stock has a market capitalization of $862.14 million, a P/E ratio of -8.62 and a beta of 6.41. Pagaya Technologies has a one year low of $8.56 and a one year high of $24.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 1.50. The firm’s 50 day simple moving average is $13.46 and its two-hundred day simple moving average is $12.49.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The firm had revenue of $250.34 million for the quarter, compared to analysts’ expectations of $239.16 million. Pagaya Technologies had a negative net margin of 14.58% and a negative return on equity of 3.10%. As a group, analysts expect that Pagaya Technologies will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Evangelos Perros sold 11,293 shares of Pagaya Technologies stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $12.15, for a total value of $137,209.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Evangelos Perros sold 11,293 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $12.15, for a total value of $137,209.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Yahav Yulzari sold 11,662 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.78, for a total value of $184,026.36. Following the completion of the sale, the executive now directly owns 288,037 shares of the company’s stock, valued at $4,545,223.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,239 shares of company stock worth $1,190,278. Company insiders own 19.70% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Several hedge funds have recently made changes to their positions in PGY. Yarra Square Partners LP acquired a new position in shares of Pagaya Technologies during the 4th quarter valued at about $4,099,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Pagaya Technologies in the 1st quarter valued at $12,686,000. Hood River Capital Management LLC acquired a new stake in Pagaya Technologies in the 1st quarter valued at about $9,265,000. Quadrature Capital Ltd lifted its position in Pagaya Technologies by 3,558.5% during the fourth quarter. Quadrature Capital Ltd now owns 784,860 shares of the company’s stock worth $1,079,000 after acquiring an additional 763,407 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Pagaya Technologies by 14.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 675,064 shares of the company’s stock valued at $6,818,000 after acquiring an additional 83,913 shares during 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.