Pagaya Technologies (NASDAQ:PGY) Price Target Lowered to $36.00 at B. Riley

Pagaya Technologies (NASDAQ:PGY) had its target price lowered by investment analysts at B. Riley from $48.00 to $36.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective would indicate a potential upside of 261.08% from the stock’s previous close.

A number of other research analysts also recently weighed in on PGY. Wedbush reissued a “neutral” rating and issued a $13.00 target price on shares of Pagaya Technologies in a report on Monday, August 12th. Keefe, Bruyette & Woods began coverage on shares of Pagaya Technologies in a research note on Monday, June 17th. They issued an “outperform” rating and a $23.00 price objective on the stock. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Pagaya Technologies in a research report on Monday, August 12th. Benchmark initiated coverage on shares of Pagaya Technologies in a research report on Monday, August 26th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $25.00 price objective on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Pagaya Technologies currently has an average rating of “Moderate Buy” and an average target price of $25.50.

Pagaya Technologies Stock Up 0.1 %

PGY opened at $9.97 on Monday. The stock has a market capitalization of $706.87 million, a price-to-earnings ratio of -7.06 and a beta of 6.41. The firm has a 50 day moving average price of $13.08 and a 200-day moving average price of $12.10. Pagaya Technologies has a twelve month low of $8.56 and a twelve month high of $20.50. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11). The company had revenue of $250.34 million during the quarter, compared to the consensus estimate of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. Equities research analysts forecast that Pagaya Technologies will post -0.11 earnings per share for the current year.

Insider Activity

In related news, insider Tami Rosen sold 8,025 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total value of $117,967.50. Following the completion of the transaction, the insider now owns 55,751 shares of the company’s stock, valued at approximately $819,539.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Tami Rosen sold 8,025 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.70, for a total value of $117,967.50. Following the transaction, the insider now directly owns 55,751 shares of the company’s stock, valued at approximately $819,539.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Avital Pardo sold 11,601 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $15.83, for a total transaction of $183,643.83. Following the sale, the chief technology officer now directly owns 433,125 shares of the company’s stock, valued at $6,856,368.75. The disclosure for this sale can be found here. Insiders have sold 66,453 shares of company stock worth $973,545 in the last three months. Company insiders own 19.70% of the company’s stock.

Institutional Trading of Pagaya Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of PGY. nVerses Capital LLC purchased a new stake in shares of Pagaya Technologies during the 2nd quarter worth approximately $74,000. SG Americas Securities LLC bought a new stake in Pagaya Technologies in the second quarter worth $101,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Pagaya Technologies in the second quarter worth $166,000. The Manufacturers Life Insurance Company purchased a new stake in Pagaya Technologies during the second quarter valued at $187,000. Finally, Cornerstone Investment Partners LLC bought a new position in Pagaya Technologies during the first quarter valued at $158,000. 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.