Pagaya Technologies Ltd. (NASDAQ:PGY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $22.89.

A number of equities analysts have recently weighed in on PGY shares. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Pagaya Technologies in a research note on Tuesday, September 3rd. Wedbush reiterated a “neutral” rating and issued a $13.00 price target on shares of Pagaya Technologies in a report on Monday, August 12th. Canaccord Genuity Group reduced their target price on shares of Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of Pagaya Technologies in a report on Wednesday, October 16th. Finally, B. Riley reduced their price target on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 30th.

Insider Activity at Pagaya Technologies

In other Pagaya Technologies news, CTO Avital Pardo sold 11,601 shares of Pagaya Technologies stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $15.83, for a total transaction of $183,643.83. Following the transaction, the chief technology officer now owns 433,125 shares of the company’s stock, valued at $6,856,368.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pagaya Technologies news, CTO Avital Pardo sold 11,601 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $15.83, for a total value of $183,643.83. Following the completion of the sale, the chief technology officer now owns 433,125 shares of the company’s stock, valued at approximately $6,856,368.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Yahav Yulzari bought 23,600 shares of the stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $10.52 per share, for a total transaction of $248,272.00. Following the acquisition, the insider now directly owns 311,637 shares of the company’s stock, valued at $3,278,421.24. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 34,079 shares of company stock valued at $494,849 over the last quarter. 19.70% of the stock is owned by insiders.

Institutional Trading of Pagaya Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Pagaya Technologies during the second quarter worth about $74,000. SG Americas Securities LLC purchased a new stake in Pagaya Technologies during the second quarter valued at about $101,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Pagaya Technologies in the 2nd quarter worth about $166,000. The Manufacturers Life Insurance Company purchased a new stake in Pagaya Technologies during the 2nd quarter worth $187,000. Finally, Castle Hook Partners LP acquired a new stake in Pagaya Technologies in the first quarter valued at approximately $188,000. 57.14% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Price Performance

PGY stock opened at $12.37 on Friday. Pagaya Technologies has a 1 year low of $8.56 and a 1 year high of $20.50. The company has a market cap of $877.03 million, a P/E ratio of -8.90 and a beta of 6.36. The firm has a 50-day moving average of $11.92 and a 200 day moving average of $12.16. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 1.50.

Pagaya Technologies (NASDAQ:PGY) last released 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). Pagaya Technologies had a negative net margin of 14.58% and a negative return on equity of 3.10%. The business had revenue of $250.34 million for the quarter, compared to analysts’ expectations of $239.16 million. On average, sell-side analysts forecast that Pagaya Technologies will post -0.09 EPS for the current year.

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.