Benchmark Reiterates “Buy” Rating for Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies (NASDAQ:PGY)‘s stock had its “buy” rating reissued by Benchmark in a report released on Wednesday, Benzinga reports. They presently have a $21.00 target price on the stock. Benchmark’s price objective points to a potential upside of 85.02% from the company’s current price.

A number of other brokerages have also weighed in on PGY. Canaccord Genuity Group reduced their price objective on Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Pagaya Technologies in a report on Monday, August 12th. B. Riley dropped their price objective on shares of Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. JMP Securities reissued a “market outperform” rating and set a $25.00 target price on shares of Pagaya Technologies in a report on Tuesday, September 3rd. Finally, Oppenheimer began coverage on shares of Pagaya Technologies in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.89.

Pagaya Technologies Stock Down 3.9 %

PGY stock opened at $11.35 on Wednesday. The firm has a 50-day moving average price of $12.04 and a 200-day moving average price of $12.06. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $20.50. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $804.72 million, a P/E ratio of -8.05 and a beta of 6.36.

Pagaya Technologies (NASDAQ:PGY) last issued 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). 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 net margin of 14.58% and a negative return on equity of 3.10%. As a group, equities research analysts anticipate that Pagaya Technologies will post -0.15 EPS for the current fiscal year.

Insider Transactions at Pagaya Technologies

In other Pagaya Technologies news, CFO Evangelos Perros sold 24,171 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $13.55, for a total transaction of $327,517.05. Following the sale, the chief financial officer now owns 23,791 shares of the company’s stock, valued at approximately $322,368.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Tami Rosen sold 8,025 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.70, for a total transaction of $117,967.50. Following the transaction, the insider now owns 55,751 shares in the company, valued at $819,539.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Evangelos Perros sold 24,171 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $13.55, for a total transaction of $327,517.05. Following the transaction, the chief financial officer now directly owns 23,791 shares in the company, valued at approximately $322,368.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,475 shares of company stock worth $943,456 over the last three months. 19.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in shares of Pagaya Technologies during the second quarter worth approximately $74,000. SG Americas Securities LLC bought a new position in shares of Pagaya Technologies in the second quarter valued at $101,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Pagaya Technologies during the second quarter valued at about $166,000. Cubist Systematic Strategies LLC grew its holdings in shares of Pagaya Technologies by 50.1% during the second quarter. Cubist Systematic Strategies LLC now owns 43,813 shares of the company’s stock valued at $559,000 after buying an additional 14,629 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Pagaya Technologies in the 2nd quarter worth about $187,000. Institutional investors and hedge funds 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.