Canaccord Genuity Group Forecasts Strong Price Appreciation for Pagaya Technologies (NASDAQ:PGY) Stock

Pagaya Technologies (NASDAQ:PGY) had its price objective upped by Canaccord Genuity Group from $36.00 to $39.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 50.46% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Benchmark reissued a “buy” rating and issued a $48.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 1st. JMP Securities raised their target price on shares of Pagaya Technologies from $26.00 to $35.00 and gave the stock a “market outperform” rating in a report on Monday, August 11th. Keefe, Bruyette & Woods lifted their price target on shares of Pagaya Technologies from $27.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pagaya Technologies in a research report on Tuesday, October 14th. Finally, Wall Street Zen lowered Pagaya Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 30th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Pagaya Technologies has an average rating of “Moderate Buy” and a consensus price target of $34.67.

Pagaya Technologies Stock Performance

Shares of NASDAQ PGY opened at $25.92 on Tuesday. Pagaya Technologies has a 1 year low of $8.20 and a 1 year high of $44.99. The firm has a market cap of $1.99 billion, a P/E ratio of -9.71 and a beta of 5.83. The stock has a fifty day moving average price of $31.80 and a two-hundred day moving average price of $26.12. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.42 and a current ratio of 11.41.

Pagaya Technologies (NASDAQ:PGY) last announced its quarterly earnings data on Monday, November 10th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.46. Pagaya Technologies had a positive return on equity of 31.59% and a negative net margin of 15.32%.The business had revenue of $350.17 million during the quarter, compared to analyst estimates of $338.86 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company’s revenue was up 36.3% on a year-over-year basis. Pagaya Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts forecast that Pagaya Technologies will post 0.88 EPS for the current fiscal year.

Insider Activity

In other Pagaya Technologies news, CFO Evangelos Perros sold 14,356 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $37.34, for a total value of $536,053.04. Following the transaction, the chief financial officer owned 59,079 shares in the company, valued at $2,206,009.86. The trade was a 19.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Sanjiv Das sold 13,304 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $40.62, for a total value of $540,408.48. Following the completion of the transaction, the president directly owned 96,885 shares in the company, valued at approximately $3,935,468.70. The trade was a 12.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 95,081 shares of company stock worth $3,475,010 in the last ninety days. Corporate insiders own 47.59% of the company’s stock.

Institutional Investors Weigh In On Pagaya Technologies

Several large investors have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC bought a new stake in shares of Pagaya Technologies during the 2nd quarter worth about $857,000. Invesco Ltd. boosted its position in Pagaya Technologies by 20.5% during the first quarter. Invesco Ltd. now owns 57,875 shares of the company’s stock worth $607,000 after purchasing an additional 9,845 shares during the period. Bank of New York Mellon Corp grew its holdings in Pagaya Technologies by 446.1% during the first quarter. Bank of New York Mellon Corp now owns 482,018 shares of the company’s stock valued at $5,052,000 after purchasing an additional 393,752 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Pagaya Technologies in the second quarter valued at approximately $1,699,000. Finally, ARK Investment Management LLC bought a new position in shares of Pagaya Technologies in the first quarter valued at approximately $2,296,000. 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.