Pagaya Technologies Ltd. (NASDAQ:PGY) Receives $37.25 Average PT from Analysts

Pagaya Technologies Ltd. (NASDAQ:PGY) has been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.25.

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Friday, January 9th. Benchmark restated a “buy” rating and set a $48.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 1st. Zacks Research raised Pagaya Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 2nd. Keefe, Bruyette & Woods decreased their target price on Pagaya Technologies from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd. Finally, Wall Street Zen cut Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th.

Pagaya Technologies Stock Performance

NASDAQ PGY opened at $21.56 on Monday. The stock has a market cap of $1.73 billion, a PE ratio of -8.07 and a beta of 5.86. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.16. Pagaya Technologies has a twelve month low of $8.50 and a twelve month high of $44.99. The stock has a fifty day simple moving average of $23.11 and a 200-day simple moving average of $28.41.

Pagaya Technologies (NASDAQ:PGY) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.46. The firm had revenue of $350.17 million for the quarter, compared to analyst estimates of $338.86 million. Pagaya Technologies had a negative net margin of 15.32% and a positive return on equity of 31.59%. Pagaya Technologies’s revenue was up 36.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Equities analysts anticipate that Pagaya Technologies will post 0.88 earnings per share for the current year.

Insider Activity

In other news, President Sanjiv Das sold 3,945 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $22.99, for a total value of $90,695.55. Following the completion of the transaction, the president owned 129,986 shares of the company’s stock, valued at approximately $2,988,378.14. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tami Rosen sold 7,561 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $30.73, for a total value of $232,349.53. Following the sale, the insider directly owned 37,544 shares in the company, valued at $1,153,727.12. This represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,256 shares of company stock valued at $547,198. 47.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new stake in shares of Pagaya Technologies during the third quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB acquired a new position in Pagaya Technologies during the 2nd quarter worth approximately $25,000. LSV Asset Management acquired a new position in Pagaya Technologies during the 3rd quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd increased its position in shares of Pagaya Technologies by 35.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,973 shares of the company’s stock valued at $42,000 after purchasing an additional 520 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Pagaya Technologies in the 3rd quarter valued at $84,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

Pagaya Technologies is a financial technology company that applies artificial intelligence and machine learning to the credit and asset management industries. Through its proprietary data-driven platform, Pagaya analyzes vast datasets from consumer credit portfolios to build predictive risk models, enabling institutional investors to gain access to alternative credit products. The company’s solutions streamline underwriting, optimize portfolio construction and facilitate the efficient securitization of consumer loans, credit card receivables and other asset classes.

Founded in 2016 and headquartered in New York, Pagaya has expanded its operations to serve financial institutions and asset managers primarily in the United States.