Pagaya Technologies Ltd. (NASDAQ:PGY) Given Average Rating of “Moderate Buy” by Brokerages

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $26.94.

A number of equities analysts recently weighed in on PGY shares. JMP Securities restated a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Friday, June 7th. Wedbush decreased their price target on Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a research note on Friday, March 15th. Keefe, Bruyette & Woods assumed coverage on Pagaya Technologies in a report on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective for the company. Citigroup started coverage on shares of Pagaya Technologies in a research note on Friday, May 24th. They set a “neutral” rating and a $14.00 target price on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Pagaya Technologies in a report on Thursday, May 9th.

Pagaya Technologies Price Performance

PGY opened at $12.68 on Friday. The firm has a market cap of $899.01 million, a PE ratio of -8.99 and a beta of 6.49. The stock has a 50-day moving average price of $11.46 and a 200-day moving average price of $13.18. Pagaya Technologies has a 1 year low of $8.56 and a 1 year high of $33.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.36 and a quick ratio of 2.36.

Pagaya Technologies (NASDAQ:PGY) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). The firm had revenue of $237.00 million for the quarter, compared to the consensus estimate of $229.45 million. Pagaya Technologies had a negative net margin of 10.53% and a negative return on equity of 4.23%. During the same quarter in the prior year, the business posted ($0.48) earnings per share. Sell-side analysts predict that Pagaya Technologies will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, CRO Yahav Yulzari bought 60,000 shares of Pagaya Technologies stock in a transaction on Wednesday, April 3rd. The stock was acquired at an average cost of $10.17 per share, with a total value of $610,200.00. Following the completion of the acquisition, the executive now owns 299,699 shares in the company, valued at $3,047,938.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CRO Yahav Yulzari purchased 60,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was acquired at an average price of $10.17 per share, with a total value of $610,200.00. Following the completion of the acquisition, the executive now owns 299,699 shares of the company’s stock, valued at approximately $3,047,938.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tami Rosen acquired 10,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was bought at an average cost of $10.47 per share, for a total transaction of $104,700.00. Following the purchase, the insider now directly owns 28,818 shares of the company’s stock, valued at $301,724.46. The disclosure for this purchase can be found here. Insiders bought a total of 194,807 shares of company stock worth $2,012,373 in the last three months. 19.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

A number of hedge funds have recently modified their holdings of the company. Cornerstone Investment Partners LLC purchased a new position in Pagaya Technologies in the 1st quarter worth approximately $158,000. Castle Hook Partners LP purchased a new position in shares of Pagaya Technologies in the first quarter worth $188,000. Pathstone Family Office LLC bought a new position in shares of Pagaya Technologies during the third quarter worth $32,000. MBE Wealth Management LLC purchased a new position in Pagaya Technologies during the fourth quarter valued at $31,000. Finally, Acadian Asset Management LLC bought a new stake in Pagaya Technologies in the 3rd quarter valued at $38,000. 57.14% of the stock is currently owned by institutional investors.

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.