Research Analysts Issue Forecasts for PGY FY2024 Earnings

Pagaya Technologies Ltd. (NASDAQ:PGY) – Analysts at Wedbush raised their FY2024 earnings per share (EPS) estimates for Pagaya Technologies in a research note issued to investors on Monday, October 14th. Wedbush analyst D. Chiaverini now forecasts that the company will post earnings per share of ($0.16) for the year, up from their prior estimate of ($0.40). Wedbush currently has a “Neutral” rating and a $13.00 target price on the stock. The consensus estimate for Pagaya Technologies’ current full-year earnings is ($0.15) per share. Wedbush also issued estimates for Pagaya Technologies’ Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $0.67 EPS and FY2026 earnings at $0.72 EPS.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The firm had revenue of $250.34 million for 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%.

Several other equities analysts have also issued reports on PGY. Oppenheimer started coverage on shares of Pagaya Technologies in a report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target for the company. Benchmark restated a “buy” rating and issued a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday. B. Riley cut their price objective on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating on the stock 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 research note on Tuesday, September 3rd. Finally, Canaccord Genuity Group cut their price target on shares of Pagaya Technologies from $42.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Pagaya Technologies Stock Up 2.4 %

Shares of Pagaya Technologies stock opened at $11.62 on Thursday. Pagaya Technologies has a 12 month low of $8.56 and a 12 month high of $20.50. The business has a fifty day simple moving average of $11.99 and a 200 day simple moving average of $12.08. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The stock has a market cap of $823.86 million, a PE ratio of -8.24 and a beta of 6.36.

Hedge Funds Weigh In On Pagaya Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in shares of Pagaya Technologies during the 2nd quarter worth approximately $74,000. SG Americas Securities LLC acquired a new stake in shares of Pagaya Technologies in the 2nd quarter valued at $101,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Pagaya Technologies in the 2nd quarter valued at $166,000. The Manufacturers Life Insurance Company bought a new position in shares of Pagaya Technologies in the 2nd quarter valued at $187,000. Finally, Castle Hook Partners LP acquired a new position in shares of Pagaya Technologies during the 1st quarter worth $188,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pagaya Technologies

In other Pagaya Technologies news, President Sanjiv Das sold 10,683 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $11.77, for a total value of $125,738.91. Following the transaction, the president now directly owns 64,794 shares of the company’s stock, valued at $762,625.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Avital Pardo sold 11,601 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $15.83, for a total transaction of $183,643.83. Following the transaction, the chief technology officer now directly 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 is available through the SEC website. Also, President Sanjiv Das sold 10,683 shares of Pagaya Technologies stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $11.77, for a total transaction of $125,738.91. Following the completion of the sale, the president now owns 64,794 shares of the company’s stock, valued at $762,625.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,475 shares of company stock worth $943,456 over the last ninety days. Insiders own 19.70% of the company’s stock.

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.