Brokerages Set Pagaya Technologies Ltd. (NASDAQ:PGY) PT at $24.25

Pagaya Technologies Ltd. (NASDAQ:PGY) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.89.

Several equities analysts recently issued reports on PGY shares. Wedbush reiterated a “neutral” rating and issued a $13.00 target price on shares of Pagaya Technologies in a research note on Monday, August 12th. Oppenheimer assumed coverage on shares of Pagaya Technologies in a research report on Tuesday. They set an “outperform” rating and a $12.00 price objective for the company. Canaccord Genuity Group reduced their price objective on shares of Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating for the company in a research report on Monday. Keefe, Bruyette & Woods assumed coverage on shares of Pagaya Technologies in a research report on Monday, June 17th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, Benchmark assumed coverage on shares of Pagaya Technologies in a research report on Monday, August 26th. They set a “buy” rating and a $21.00 price objective for the company.

Pagaya Technologies Stock Up 2.0 %

PGY stock opened at $10.19 on Tuesday. The firm’s fifty day simple moving average is $12.70 and its 200-day simple moving average is $12.03. The company has a market capitalization of $722.47 million, a P/E ratio of -7.23 and a beta of 6.36. 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 has a 12 month low of $8.56 and a 12 month high of $20.50.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (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 firm had revenue of $250.34 million during the quarter, compared to analyst estimates of $239.16 million. As a group, equities research analysts forecast that Pagaya Technologies will post -0.11 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in Pagaya Technologies during the first quarter worth about $12,686,000. Hood River Capital Management LLC purchased a new position in Pagaya Technologies during the first quarter worth about $9,265,000. Quadrature Capital Ltd purchased a new position in Pagaya Technologies during the fourth quarter worth about $1,079,000. Millennium Management LLC boosted its stake in Pagaya Technologies by 455.9% during the second quarter. Millennium Management LLC now owns 218,549 shares of the company’s stock worth $2,789,000 after buying an additional 179,235 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new position in Pagaya Technologies during the second quarter worth about $2,273,000. Hedge funds and other institutional investors 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.